Tenaris S.A. (NYSE:TS) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC increased its stake in shares of Tenaris S.A. (NYSE:TS) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,923 shares of the industrial products company’s stock after purchasing an additional 834 shares during the quarter. Ballentine Partners LLC’s holdings in Tenaris were worth $350,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in Tenaris by 14.8% in the fourth quarter. Wellington Management Group LLP now owns 1,006,755 shares of the industrial products company’s stock valued at $34,995,000 after acquiring an additional 129,450 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Tenaris by 33.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock valued at $40,154,000 after acquiring an additional 291,118 shares during the period. TT International Asset Management LTD acquired a new stake in Tenaris in the fourth quarter valued at $19,155,000. Virtu Financial LLC acquired a new stake in Tenaris in the fourth quarter valued at $506,000. Finally, Clear Street Markets LLC lifted its holdings in Tenaris by 8,782.0% in the fourth quarter. Clear Street Markets LLC now owns 17,764 shares of the industrial products company’s stock valued at $617,000 after acquiring an additional 17,564 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Trading Down 1.3 %

Tenaris stock opened at $30.67 on Wednesday. The stock has a market cap of $17.83 billion, a PE ratio of 5.11, a P/E/G ratio of 0.29 and a beta of 1.48. The stock has a 50-day moving average price of $33.67 and a 200 day moving average price of $34.70. Tenaris S.A. has a 52 week low of $27.92 and a 52 week high of $40.72.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.23. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. On average, equities analysts predict that Tenaris S.A. will post 3.9 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TS. Piper Sandler cut their price target on Tenaris from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Morgan Stanley downgraded Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target for the company. in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.60.

About Tenaris

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.