Squarepoint Ops LLC Acquires 55,747 Shares of Tenaris S.A. (NYSE:TS)

Squarepoint Ops LLC raised its holdings in shares of Tenaris S.A. (NYSE:TS) by 106.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,315 shares of the industrial products company’s stock after purchasing an additional 55,747 shares during the quarter. Squarepoint Ops LLC’s holdings in Tenaris were worth $3,306,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cubist Systematic Strategies LLC lifted its stake in shares of Tenaris by 69.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 482,376 shares of the industrial products company’s stock valued at $14,722,000 after purchasing an additional 198,128 shares during the last quarter. Appian Way Asset Management LP bought a new stake in Tenaris in the second quarter worth $2,468,000. Bank of Montreal Can boosted its stake in Tenaris by 1,117.3% during the second quarter. Bank of Montreal Can now owns 151,879 shares of the industrial products company’s stock worth $4,728,000 after buying an additional 139,402 shares during the period. Evergreen Capital Management LLC boosted its stake in Tenaris by 3.7% during the second quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock worth $608,000 after buying an additional 710 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Tenaris by 16.6% during the second quarter. 1832 Asset Management L.P. now owns 32,950 shares of the industrial products company’s stock valued at $1,006,000 after acquiring an additional 4,700 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Tenaris Price Performance

Tenaris stock opened at $32.31 on Wednesday. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 5.38 and a beta of 1.43. The firm has a 50-day moving average of $29.22 and a two-hundred day moving average of $32.62. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.38). The firm had revenue of $3.32 billion during 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 firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. Research analysts expect that Tenaris S.A. will post 3.2 earnings per share for the current year.

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.