Kiltearn Partners LLP Sells 132,300 Shares of Tenaris S.A. (NYSE:TS)

Kiltearn Partners LLP lowered its position in Tenaris S.A. (NYSE:TS) by 17.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 611,659 shares of the industrial products company’s stock after selling 132,300 shares during the quarter. Tenaris accounts for about 2.3% of Kiltearn Partners LLP’s holdings, making the stock its 18th largest position. Kiltearn Partners LLP owned 0.11% of Tenaris worth $18,668,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its stake in 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 acquiring an additional 313,185 shares during the period. Renaissance Technologies LLC boosted its holdings in Tenaris by 46.2% during the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after purchasing an additional 819,500 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Tenaris by 91.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock valued at $89,545,000 after purchasing an additional 1,228,287 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Tenaris by 3.3% in 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 buying an additional 56,935 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position 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 buying an additional 291,118 shares during the period. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of NYSE:TS opened at $29.40 on Tuesday. The business has a fifty day moving average of $29.26 and a 200-day moving average of $32.92. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72. The firm has a market cap of $17.09 billion, a PE ratio of 4.90 and a beta of 1.43.

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). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. During the same period in the prior year, the company earned $1.90 EPS. The firm’s revenue was down 18.5% compared to the same quarter last year. On average, analysts anticipate that Tenaris S.A. will post 3.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler dropped their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Stifel Nicolaus dropped their target price on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Monday, August 5th. One equities research 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. Based on data from MarketBeat.com, Tenaris currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Tenaris 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.