Exencial Wealth Advisors LLC Reduces Holdings 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 lowered its position 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 Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Tenaris by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company's stock worth $316,000 after acquiring an additional 308 shares during the last quarter. Harbour Investments Inc. bought a new stake in shares of Tenaris during the first quarter worth $39,000. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Tenaris during the first quarter valued at $121,000. Assetmark Inc. grew its holdings in shares of Tenaris by 1.5% in the first quarter. Assetmark Inc. now owns 449,838 shares of the industrial products company's stock worth $17,593,000 after purchasing an additional 6,653 shares during the last quarter. Finally, Cadence Wealth Management LLC increased its stake in Tenaris by 4.9% in the 1st quarter. Cadence Wealth Management LLC now owns 19,044 shares of the industrial products company's stock worth $745,000 after buying an additional 895 shares during the period. Institutional investors own 10.45% of the company's stock.

Tenaris Trading Up 0.4%

Shares of NYSE TS opened at $35.46 on Friday. The stock has a market capitalization of $20.62 billion, a PE ratio of 9.64, a price-to-earnings-growth ratio of 2.67 and a beta of 1.34. The stock's fifty day simple moving average is $36.62 and its two-hundred day simple moving average is $36.26. Tenaris S.A. has a 12-month low of $27.49 and a 12-month high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $3 billion. During the same period in the prior year, the business posted $0.59 EPS. The firm's quarterly revenue was down 7.1% on a year-over-year basis. On average, equities analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

Several research firms have issued reports on TS. Barclays lowered their price objective on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday. Morgan Stanley dropped their price objective on Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Sanford C. Bernstein initiated coverage on Tenaris in a report on Monday, July 21st. They set an "outperform" rating on the stock. Stifel Nicolaus lowered their target price on Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, BNP Paribas began coverage on Tenaris in a research report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $43.60.

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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