Assetmark Inc. Boosts Stock Position in Tenaris S.A. (NYSE:TS)

Assetmark Inc. boosted its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 449,838 shares of the industrial products company's stock after buying an additional 6,653 shares during the quarter. Assetmark Inc. owned approximately 0.08% of Tenaris worth $17,593,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in shares of Tenaris during the fourth quarter worth about $42,000. Covestor Ltd grew its holdings in shares of Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock worth $65,000 after buying an additional 469 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Tenaris by 93.2% during the first quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company's stock worth $66,000 after buying an additional 801 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tenaris by 46.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock worth $71,000 after buying an additional 600 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Tenaris by 106.7% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,150 shares of the industrial products company's stock worth $81,000 after buying an additional 1,110 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company's stock.

Tenaris Trading Down 0.3%

Shares of Tenaris stock opened at $38.05 on Friday. The company has a fifty day moving average price of $36.12 and a 200 day moving average price of $36.40. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.87. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 2.87 and a beta of 1.29.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.14. Tenaris had a net margin of 15.05% and a return on equity of 10.54%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the business posted $1.27 EPS. The firm's revenue was down 15.1% compared to the same quarter last year. Analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris declared that its Board of Directors has initiated a share buyback program on Tuesday, May 27th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BNP Paribas assumed coverage on Tenaris in a report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Sanford C. Bernstein assumed coverage on Tenaris in a report on Monday, July 21st. They set an "outperform" rating on the stock. Stifel Nicolaus lowered their price target on Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Barclays set a $48.00 price target on Tenaris and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Tenaris currently has an average rating of "Hold" and an average target price of $44.00.

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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