Massachusetts Financial Services Co. MA Lowers Holdings in Tenaris S.A. (NYSE:TS)

Massachusetts Financial Services Co. MA lowered its position in shares of Tenaris S.A. (NYSE:TS) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 585,170 shares of the industrial products company’s stock after selling 9,849 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.10% of Tenaris worth $17,859,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in TS. Van ECK Associates Corp boosted its stake in shares of Tenaris by 10.9% in the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock valued at $97,154,000 after buying an additional 313,185 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Tenaris by 91.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock worth $89,545,000 after purchasing an additional 1,228,287 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Tenaris by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after purchasing an additional 56,935 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Tenaris by 33.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock worth $40,154,000 after purchasing an additional 291,118 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Tenaris by 14.8% in the 4th quarter. Wellington Management Group LLP now owns 1,006,755 shares of the industrial products company’s stock valued at $34,995,000 after purchasing an additional 129,450 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Piper Sandler decreased their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Stifel Nicolaus dropped their price objective on Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $39.00.

Tenaris Trading Down 0.7 %

NYSE:TS opened at $29.51 on Friday. The company has a market capitalization of $17.15 billion, a P/E ratio of 4.92 and a beta of 1.43. The firm has a 50-day moving average price of $29.30 and a two-hundred day moving average price of $33.03. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $170.13 million. During the same period last year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was down 18.5% on a year-over-year basis. On average, equities research analysts predict that Tenaris S.A. will post 3.3 earnings per share for the current year.

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.