Carrhae Capital LLP Has $15.44 Million Stock Holdings in Tenaris S.A. $TS

Carrhae Capital LLP reduced its position in shares of Tenaris S.A. (NYSE:TS) by 17.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 278,311 shares of the industrial products company’s stock after selling 59,117 shares during the period. Tenaris comprises about 0.4% of Carrhae Capital LLP’s investment portfolio, making the stock its 22nd biggest position. Carrhae Capital LLP’s holdings in Tenaris were worth $15,443,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TS. AQR Capital Management LLC raised its stake in shares of Tenaris by 14.3% in the first quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock valued at $925,000 after acquiring an additional 2,969 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Tenaris in the 1st quarter valued at $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Tenaris in the first quarter worth $5,458,000. JPMorgan Chase & Co. grew its holdings in shares of Tenaris by 77.4% during the second quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company’s stock worth $631,000 after purchasing an additional 7,363 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock valued at $314,000 after buying an additional 338 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Trading Up 1.0%

Shares of NYSE:TS traded up $0.55 during mid-day trading on Tuesday, reaching $57.00. The stock had a trading volume of 1,444,590 shares, compared to its average volume of 1,613,365. The firm has a 50 day simple moving average of $55.23 and a two-hundred day simple moving average of $57.52. Tenaris S.A. has a twelve month low of $33.65 and a twelve month high of $64.60. The firm has a market cap of $30.55 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.85.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.79 by $0.16. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.93 billion. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 earnings per share. On average, equities analysts anticipate that Tenaris S.A. will post 3.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on TS. Barclays decreased their price objective on shares of Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Morgan Stanley decreased their price objective on Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 20th. Zacks Research lowered Tenaris from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Piper Sandler lifted their price objective on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Finally, TD Cowen boosted their price objective on Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.45.

About Tenaris

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.