First Trust Advisors LP bought a new position in Tenaris SA (NYSE:TS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 12,369 shares of the industrial products company’s stock, valued at approximately $450,000.

Several other institutional investors have also recently added to or reduced their stakes in TS. Millennium Management LLC lifted its holdings in shares of Tenaris by 148.9% in the 1st quarter. Millennium Management LLC now owns 4,392,857 shares of the industrial products company’s stock worth $152,300,000 after acquiring an additional 2,628,095 shares during the last quarter. Arosa Capital Management LP bought a new stake in shares of Tenaris in the 1st quarter worth about $48,191,000. Franklin Resources Inc. lifted its holdings in shares of Tenaris by 24.5% in the 1st quarter. Franklin Resources Inc. now owns 625,309 shares of the industrial products company’s stock worth $21,679,000 after acquiring an additional 123,105 shares during the last quarter. Centenus Global Management LP lifted its holdings in shares of Tenaris by 45.0% in the 1st quarter. Centenus Global Management LP now owns 290,000 shares of the industrial products company’s stock worth $10,054,000 after acquiring an additional 90,000 shares during the last quarter. Finally, Energy Opportunities Capital Management LLC lifted its holdings in shares of Tenaris by 69.7% in the 1st quarter. Energy Opportunities Capital Management LLC now owns 165,065 shares of the industrial products company’s stock worth $5,723,000 after acquiring an additional 67,800 shares during the last quarter. Hedge funds and other institutional investors own 13.97% of the company’s stock.

TS stock opened at $32.70 on Monday. The stock has a market capitalization of $19.30 billion, a P/E ratio of 28.68, a P/E/G ratio of 0.65 and a beta of 0.57. Tenaris SA has a 12 month low of $25.91 and a 12 month high of $40.64.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.79 billion. Tenaris had a net margin of 10.21% and a return on equity of 5.74%. The firm’s revenue was up 43.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 EPS. analysts forecast that Tenaris SA will post 1.39 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on TS shares. Jefferies Financial Group began coverage on shares of Tenaris in a report on Thursday, August 23rd. They issued a “buy” rating for the company. BNP Paribas raised shares of Tenaris from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 21st. ValuEngine downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, June 16th. Zacks Investment Research downgraded shares of Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research note on Friday, June 29th. Finally, Credit Suisse Group downgraded shares of Tenaris from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 11th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.21.

Tenaris Profile

Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.

See Also: Index Funds

Want to see what other hedge funds are holding TS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenaris SA (NYSE:TS).

Institutional Ownership by Quarter for Tenaris (NYSE:TS)

Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.