XTX Topco Ltd Buys New Shares in Tenaris S.A. (NYSE:TS)

XTX Topco Ltd purchased a new stake in Tenaris S.A. (NYSE:TS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 42,227 shares of the industrial products company’s stock, valued at approximately $1,289,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TS. Janiczek Wealth Management LLC grew its holdings in shares of Tenaris by 14.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 347 shares in the last quarter. Parallel Advisors LLC grew its stake in Tenaris by 20.3% in the fourth quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 660 shares in the last quarter. Signaturefd LLC increased its position in shares of Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 732 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Tenaris by 10.3% during the 1st quarter. Ballentine Partners LLC now owns 8,923 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 834 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Tenaris in the 2nd quarter valued at approximately $32,000. 10.45% of the stock is owned by institutional investors.

Tenaris Price Performance

TS stock opened at $29.51 on Friday. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The stock has a market cap of $17.15 billion, a price-to-earnings ratio of 4.92 and a beta of 1.43. The company has a fifty day moving average price of $29.30 and a two-hundred day moving average price of $33.03.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.38). The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business’s quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 EPS. Research analysts anticipate that Tenaris S.A. will post 3.3 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.