Tenaris S.A. $TS Shares Bought by Naples Global Advisors LLC

Naples Global Advisors LLC grew its holdings in shares of Tenaris S.A. (NYSE:TS) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 13,685 shares of the industrial products company’s stock after purchasing an additional 1,300 shares during the quarter. Naples Global Advisors LLC’s holdings in Tenaris were worth $512,000 at the end of the most recent quarter.

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

Tenaris Stock Performance

Shares of NYSE TS opened at $36.37 on Friday. The stock’s 50-day simple moving average is $35.75 and its 200-day simple moving average is $35.57. The firm has a market capitalization of $21.15 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 2.71 and a beta of 1.33. Tenaris S.A. has a fifty-two week low of $30.06 and a fifty-two week high of $40.87.

Tenaris (NYSE:TS) last announced its quarterly 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 return on equity of 11.71% and a net margin of 17.02%.The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Sanford C. Bernstein started coverage on Tenaris in a report on Monday, July 21st. They set an “outperform” rating on the stock. Piper Sandler downgraded Tenaris from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $48.00 to $41.00 in a research report on Wednesday, September 17th. Barclays reduced their target price 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 cut shares of Tenaris from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a research report on Saturday, September 27th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.80.

Tenaris Company 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.