Tenaris S.A. (NYSE:TS) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in Tenaris S.A. (NYSE:TS) by 64.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,454 shares of the industrial products company’s stock after selling 41,240 shares during the period. Sei Investments Co.’s holdings in Tenaris were worth $685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Fund Management S.A. acquired a new stake in shares of Tenaris in the 4th quarter valued at about $5,088,000. Balyasny Asset Management L.P. lifted its holdings in 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 buying an additional 1,228,287 shares during the last quarter. Appian Way Asset Management LP bought a new position in Tenaris during the 4th quarter worth approximately $6,435,000. Clear Street Markets LLC grew its position in shares of Tenaris by 8,782.0% in the 4th quarter. Clear Street Markets LLC now owns 17,764 shares of the industrial products company’s stock worth $617,000 after acquiring an additional 17,564 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Tenaris in the 4th quarter valued at approximately $506,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Stifel Nicolaus reduced their price target on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, Piper Sandler lowered their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $39.00.

Tenaris Stock Performance

TS stock opened at $31.63 on Wednesday. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72. The stock has a market capitalization of $18.39 billion, a price-to-earnings ratio of 5.27 and a beta of 1.43. The stock’s fifty day moving average is $29.29 and its two-hundred day moving average is $32.43.

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 the consensus estimate of $0.97 by ($0.38). Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $170.13 million. During the same quarter in the prior year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, analysts predict that Tenaris S.A. will post 3.2 EPS for the current fiscal 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.