R Squared Ltd Purchases New Position in Tenaris S.A. $TS

R Squared Ltd purchased a new stake in Tenaris S.A. (NYSE:TS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,236 shares of the industrial products company’s stock, valued at approximately $308,000.

Other large investors have also made changes to their positions in the company. Brooklyn Investment Group grew its stake in shares of Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock valued at $28,000 after buying an additional 451 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Tenaris in the 2nd quarter worth approximately $28,000. Harbour Investments Inc. acquired a new stake in Tenaris in the 1st quarter worth approximately $39,000. Blue Trust Inc. lifted its holdings in Tenaris by 48.8% in the 2nd quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 357 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Tenaris by 52.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 563 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TS shares. Piper Sandler lowered Tenaris from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $48.00 to $41.00 in a report on Wednesday, September 17th. BNP Paribas Exane reiterated a “neutral” rating on shares of Tenaris in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tenaris in a report on Tuesday, October 14th. Barclays cut their price target on Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Sanford C. Bernstein started coverage on Tenaris in a report on Monday, July 21st. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Tenaris currently has an average rating of “Hold” and an average target price of $41.80.

Tenaris Trading Down 2.2%

TS opened at $35.89 on Friday. The stock has a market cap of $20.86 billion, a PE ratio of 9.75 and a beta of 1.33. Tenaris S.A. has a 1 year low of $30.06 and a 1 year high of $40.87. The stock’s 50 day simple moving average is $35.51 and its 200-day simple moving average is $35.32.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3 billion. Tenaris had a return on equity of 11.71% and a net margin of 17.02%.Tenaris’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. Equities analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.