80,878 Shares in Tenaris S.A. (NYSE:TS) Purchased by Appian Way Asset Management LP

Appian Way Asset Management LP acquired a new stake in shares of Tenaris S.A. (NYSE:TS) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 80,878 shares of the industrial products company’s stock, valued at approximately $2,468,000. Tenaris makes up about 0.6% of Appian Way Asset Management LP’s investment portfolio, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tenaris during the second quarter worth approximately $32,000. Headlands Technologies LLC boosted its stake in Tenaris by 1,486.0% during the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 1,486 shares during the last quarter. Janiczek Wealth Management LLC grew its holdings in Tenaris by 14.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock worth $106,000 after acquiring an additional 347 shares in the last quarter. Blue Trust Inc. increased its position in shares of Tenaris by 79.0% in the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,583 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Tenaris by 20.3% in the 4th 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. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Tenaris Trading Down 0.4 %

NYSE:TS opened at $29.40 on Tuesday. The stock has a 50 day moving average of $29.26 and a 200-day moving average of $32.92. The firm has a market capitalization of $17.09 billion, a PE ratio of 4.90 and a beta of 1.43. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates 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%. Tenaris’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 earnings per share. As a group, analysts predict that Tenaris S.A. will post 3.3 EPS for the current fiscal 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.