Legal & General Group Plc Decreases Stake in Tenaris S.A. $TS

Legal & General Group Plc reduced its stake in Tenaris S.A. (NYSE:TS) by 11.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168,043 shares of the industrial products company’s stock after selling 21,209 shares during the quarter. Legal & General Group Plc’s holdings in Tenaris were worth $6,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hantz Financial Services Inc. raised its position in shares of Tenaris by 64.9% in the 4th quarter. Hantz Financial Services Inc. now owns 15,517 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 6,108 shares during the last quarter. Beck Bode LLC purchased a new position in shares of Tenaris in the 4th quarter valued at approximately $742,000. Cadence Wealth Management LLC increased its holdings in Tenaris by 2.9% in the 4th quarter. Cadence Wealth Management LLC now owns 22,012 shares of the industrial products company’s stock worth $846,000 after buying an additional 619 shares during the period. Global Retirement Partners LLC raised its position in Tenaris by 1,066.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock worth $58,000 after buying an additional 1,376 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in Tenaris by 4,675.8% during the 4th quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock worth $61,000 after buying an additional 1,543 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $49.70 price target on shares of Tenaris in a research report on Monday, February 23rd. Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays raised their price target on shares of Tenaris to $82.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, TD Cowen reissued a “buy” rating on shares of Tenaris in a research report on Wednesday, March 18th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tenaris has a consensus rating of “Moderate Buy” and a consensus price target of $60.12.

Tenaris Trading Down 3.8%

TS opened at $61.46 on Friday. The firm has a market capitalization of $32.94 billion, a PE ratio of 16.26, a P/E/G ratio of 1.49 and a beta of 0.82. Tenaris S.A. has a 12-month low of $33.65 and a 12-month high of $64.60. The firm has a 50 day moving average of $60.88 and a two-hundred day moving average of $50.74.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. As a group, analysts predict that Tenaris S.A. will post 3.67 EPS for the current fiscal year.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.