J2 Capital Management Inc Purchases 4,209 Shares of Tenaris S.A. $TS

J2 Capital Management Inc grew its position in Tenaris S.A. (NYSE:TS) by 36.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,863 shares of the industrial products company’s stock after acquiring an additional 4,209 shares during the period. J2 Capital Management Inc’s holdings in Tenaris were worth $593,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TS. FORA Capital LLC acquired a new stake in Tenaris in the 1st quarter valued at about $421,000. GAMMA Investing LLC increased its position in Tenaris by 4,369.1% during the first quarter. GAMMA Investing LLC now owns 41,965 shares of the industrial products company’s stock worth $1,641,000 after buying an additional 41,026 shares during the last quarter. Encompass Capital Advisors LLC raised its stake in Tenaris by 90.7% in the first quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company’s stock valued at $82,035,000 after buying an additional 997,540 shares during the period. Northern Trust Corp lifted its position in shares of Tenaris by 109.6% in the first quarter. Northern Trust Corp now owns 462,542 shares of the industrial products company’s stock valued at $18,090,000 after buying an additional 241,853 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Tenaris by 93.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 801 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Sanford C. Bernstein assumed coverage on Tenaris in a research note on Monday, July 21st. They issued an “outperform” rating on the stock. Barclays decreased their price objective on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Wall Street Zen lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Finally, Piper Sandler cut shares of Tenaris from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $48.00 to $41.00 in a research note on Wednesday, September 17th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.80.

Tenaris Price Performance

TS stock opened at $36.91 on Thursday. Tenaris S.A. has a fifty-two week low of $30.06 and a fifty-two week high of $40.87. The stock has a market capitalization of $21.46 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.70 and a beta of 1.33. The business’s fifty day moving average price is $35.83 and its two-hundred day moving average price is $35.60.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the business posted $0.59 earnings per share. Tenaris’s quarterly revenue was down 7.1% on a year-over-year basis. Research analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Profile

Tenaris SA, together with its subsidiaries, 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 steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.