TD Waterhouse Canada Inc. Sells 12,265 Shares of Tenaris S.A. $TS

TD Waterhouse Canada Inc. trimmed its position in Tenaris S.A. (NYSE:TS) by 46.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,157 shares of the industrial products company’s stock after selling 12,265 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Tenaris were worth $767,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Sourcerock Group LLC lifted its position in shares of Tenaris by 25.9% during the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after buying an additional 635,817 shares during the last quarter. Wellington Management Group LLP raised its stake in Tenaris by 25.6% during the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock worth $103,128,000 after acquiring an additional 546,144 shares in the last quarter. Invesco Ltd. raised its stake in Tenaris by 514.6% during the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock worth $21,002,000 after acquiring an additional 457,332 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Tenaris by 25.4% in the 4th quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock valued at $77,638,000 after purchasing an additional 408,592 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Tenaris in the 2nd quarter valued at approximately $9,102,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TS. Zacks Research downgraded shares of Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. TD Cowen increased their price target on Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings cut Tenaris from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 7th. Finally, Morgan Stanley reduced their price target on Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, August 20th. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.45.

Tenaris Trading Up 1.1%

NYSE TS opened at $57.58 on Thursday. The business’s 50-day moving average price is $55.30 and its two-hundred day moving average price is $57.54. Tenaris S.A. has a 12 month low of $33.65 and a 12 month high of $64.60. The firm has a market capitalization of $30.86 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.36 and a beta of 0.85.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.16. Tenaris had a return on equity of 11.14% and a net margin of 15.88%.The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the company earned $0.50 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. As a group, analysts forecast that Tenaris S.A. will post 3.71 earnings per share for the current fiscal year.

About Tenaris

Tenaris SA (NYSE:TS) is a global manufacturer and supplier of steel pipe products and related services. The company primarily serves the energy industry, producing seamless and welded tubes used in oil and gas exploration, production, transportation and processing.

Its product portfolio includes oil country tubular goods, line pipe, mechanical and structural tubing, sucker rods, premium connections and other tubular accessories. Tenaris also provides engineering, logistics, pipe-management and on-site services designed to support customers throughout the life cycle of their tubular products.

Tenaris was formed in 2001 through the combination of steel-tube businesses associated with the Techint Group, including Siderca in Argentina, Dalmine in Italy and Tamsa in Mexico.