Exencial Wealth Advisors LLC Has $1.23 Million Stock Position in Tenaris S.A. (NYSE:TS)

Key Points

• Exencial Wealth Advisors LLC reduced its holdings in Tenaris S.A. (NYSE:TS) by 37.8%, owning 31,353 shares after selling 19,051 shares during the 1st quarter.
• Tenaris reported a quarterly revenue of $3.09 billion, surpassing expectations, and earnings per share of $0.99, exceeding the consensus estimate by $0.11.
• Analysts have mixed views on Tenaris, with ratings ranging from sell to buy, and recent price targets reflecting adjustments in sentiment, with Barclays lowering its target to $46.00.

Exencial Wealth Advisors LLC decreased its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 37.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,353 shares of the industrial products company's stock after selling 19,051 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Tenaris were worth $1,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in shares of Tenaris by 60.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,289 shares of the industrial products company's stock valued at $124,000 after buying an additional 1,242 shares during the period. Cerity Partners LLC lifted its stake in shares of Tenaris by 7.4% in the 4th quarter. Cerity Partners LLC now owns 26,818 shares of the industrial products company's stock valued at $956,000 after purchasing an additional 1,851 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Tenaris in the 4th quarter valued at $3,141,000. Covestor Ltd lifted its stake in shares of Tenaris by 37.2% in the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock valued at $65,000 after purchasing an additional 469 shares during the last quarter. Finally, Mariner LLC lifted its stake in shares of Tenaris by 4.8% in the 4th quarter. Mariner LLC now owns 27,430 shares of the industrial products company's stock valued at $1,036,000 after purchasing an additional 1,245 shares during the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TS shares. Sanford C. Bernstein started coverage on shares of Tenaris in a research note on Monday, July 21st. They issued an "outperform" rating for the company. Barclays reduced their price objective on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. BNP Paribas began coverage on shares of Tenaris in a report on Tuesday, April 22nd. They set an "outperform" rating for the company. Stifel Nicolaus cut their price objective on Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Wall Street Zen cut 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 given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Tenaris presently has an average rating of "Hold" and an average price target of $43.60.

Tenaris Stock Performance

Shares of TS traded up $0.66 during trading hours on Tuesday, reaching $35.93. 361,817 shares of the company traded hands, compared to its average volume of 1,602,736. The stock has a market cap of $20.89 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 2.70 and a beta of 1.34. The stock's fifty day moving average is $36.70 and its 200 day moving average is $36.16. Tenaris S.A. has a 1-year low of $27.59 and a 1-year high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.11. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, equities research analysts predict that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris announced that its Board of Directors has approved a share repurchase program on Tuesday, May 27th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 6.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.