Tenaris S.A. $TS Stock Position Raised by Viewpoint Investment Partners Corp

Viewpoint Investment Partners Corp boosted its position in Tenaris S.A. (NYSE:TS) by 68.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,900 shares of the industrial products company’s stock after purchasing an additional 9,700 shares during the period. Viewpoint Investment Partners Corp’s holdings in Tenaris were worth $1,319,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Tenaris by 7.9% during the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock worth $186,161,000 after purchasing an additional 235,400 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Tenaris by 2.2% in the second quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock valued at $136,396,000 after buying an additional 52,999 shares in the last quarter. Kiltearn Partners LLP purchased a new position in shares of Tenaris in the second quarter valued at $9,642,000. Quantinno Capital Management LP increased its position in shares of Tenaris by 20.9% in the first quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company’s stock valued at $8,514,000 after buying an additional 25,271 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in shares of Tenaris by 0.5% during the 1st quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock worth $3,389,000 after buying an additional 284 shares during the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Stock Performance

TS stock opened at $59.37 on Tuesday. The stock’s 50 day moving average price is $56.04 and its 200 day moving average price is $55.45. The firm has a market cap of $31.82 billion, a P/E ratio of 15.57, a PEG ratio of 1.66 and a beta of 0.89. Tenaris S.A. has a 1 year low of $36.42 and a 1 year high of $64.60.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.95 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the business posted $0.50 earnings per share. Tenaris’s revenue was down 3.9% compared to the same quarter last year. On average, research analysts predict that Tenaris S.A. will post 3.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TS. Weiss Ratings downgraded Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Zacks Research cut shares of Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Bank of America raised their target price on shares of Tenaris from $66.00 to $71.00 and gave the company a “buy” rating in a report on Monday, October 5th. Finally, TD Cowen lifted their target price on shares of Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.96.

About Tenaris

Tenaris SA (NYSE: TS) is a global manufacturer and supplier of steel tubular products and related services. The company primarily serves the energy industry, producing seamless and welded steel pipes used in oil and natural gas exploration, production, transportation and processing. Its offerings include oil country tubular goods, line pipe, premium connections, coiled tubing and sucker rods.

Tenaris also supplies pipes for industrial and mechanical applications, including products used in power generation, automotive manufacturing, construction and other specialized industries.