30,000 Shares in Tenaris S.A. $TS Bought by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS purchased a new position in Tenaris S.A., acquiring 30,000 shares valued at approximately $1,122,000 in Q2.
• Multiple institutional investors, including Brooklyn Investment Group and Ameritas Advisory Services, have recently increased their stakes, bringing their combined ownership to 10.45% of the company's stock.
• Analysts have issued mixed ratings on Tenaris, with a consensus rating of "Hold" and an average target price of $41.80, while some have lowered their price objectives for the stock.

KLP Kapitalforvaltning AS bought a new position in Tenaris S.A. (NYSE:TS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 30,000 shares of the industrial products company's stock, valued at approximately $1,122,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group grew its position in Tenaris by 169.5% during the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company's stock worth $28,000 after purchasing an additional 451 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Tenaris during the 2nd quarter worth about $28,000. Harbour Investments Inc. acquired a new stake in Tenaris during the 1st quarter worth about $39,000. GAMMA Investing LLC grew its position in Tenaris by 52.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company's stock worth $61,000 after purchasing an additional 563 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Tenaris by 93.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company's stock worth $66,000 after purchasing an additional 801 shares during the period. Hedge funds and other institutional investors own 10.45% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TS shares. BNP Paribas Exane reiterated a "neutral" rating on shares of Tenaris in a report on Friday, October 10th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Tenaris in a report on Tuesday. Piper Sandler cut Tenaris from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $48.00 to $41.00 in a report on Wednesday, September 17th. BNP Paribas cut Tenaris from an "outperform" rating to a "hold" rating in a report on Friday. Finally, Barclays lowered their price objective on Tenaris from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Tenaris has a consensus rating of "Hold" and an average target price of $41.80.

Tenaris Price Performance

Tenaris stock opened at $34.38 on Wednesday. Tenaris S.A. has a 12-month low of $30.06 and a 12-month high of $40.87. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 2.58 and a beta of 1.33. The firm's fifty day moving average price is $35.61 and its 200 day moving average price is $35.32.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.11. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The firm's revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. Analysts forecast that Tenaris S.A. will post 3.14 earnings per share 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.

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