Bayforest Capital Ltd Makes New Investment in Tenaris S.A. $TS

Key Points

• Bayforest Capital Ltd has acquired a new stake in Tenaris S.A., purchasing 16,165 shares valued at approximately $605,000 in the second quarter.
• Institutional investors now own 10.45% of Tenaris' stock, with recent increases in positions by several hedge funds.
• Analysts have mixed opinions on Tenaris, with a consensus rating of "Hold" and an average price target of $41.80, while research firms have issued a range of ratings from "Buy" to "Sell."

Bayforest Capital Ltd bought a new stake in Tenaris S.A. (NYSE:TS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,165 shares of the industrial products company's stock, valued at approximately $605,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MGO One Seven LLC boosted its position in shares of Tenaris by 5.4% during the 2nd quarter. MGO One Seven LLC now owns 5,940 shares of the industrial products company's stock valued at $222,000 after purchasing an additional 302 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Tenaris by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company's stock worth $316,000 after purchasing an additional 308 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Tenaris by 10.6% during the first quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company's stock worth $142,000 after purchasing an additional 347 shares during the period. Blue Trust Inc. boosted its holdings in shares of Tenaris by 48.8% during the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company's stock worth $41,000 after purchasing an additional 357 shares during the period. Finally, Baron Wealth Management LLC raised its position in Tenaris by 7.0% during the second quarter. Baron Wealth Management LLC now owns 5,852 shares of the industrial products company's stock valued at $219,000 after acquiring an additional 384 shares in the last quarter. Institutional investors own 10.45% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TS. Wall Street Zen lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Sanford C. Bernstein began coverage on shares of Tenaris in a research note on Monday, July 21st. They set an "outperform" rating on the stock. BNP Paribas Exane reiterated a "neutral" rating on shares of Tenaris in a research note on Friday, October 10th. Barclays cut their price objective on Tenaris from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tenaris in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Tenaris presently has a consensus rating of "Hold" and an average price target of $41.80.

Tenaris Stock Performance

Shares of TS opened at $34.38 on Wednesday. Tenaris S.A. has a 52-week low of $30.06 and a 52-week high of $40.87. The stock has a 50 day simple moving average of $35.61 and a 200 day simple moving average of $35.32. The firm has a market capitalization of $19.99 billion, a PE ratio of 9.34, a P/E/G ratio of 2.58 and a beta of 1.33.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.11. Tenaris had a return on equity of 11.71% and a net margin of 17.02%.The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the firm posted $0.59 EPS. The business's revenue was down 7.1% on a year-over-year basis. Equities research analysts predict that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

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.

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