Tenaris S.A. $TS Shares Sold by Interval Partners LP

Key Points

• Interval Partners LP significantly reduced its holdings in Tenaris S.A. by 90.4%, selling 148,165 shares and retaining just 15,807 shares valued at $618,000.
• Several institutional investors have recently increased their stakes in Tenaris, with Alua Capital Management LP making a particularly notable investment of approximately $93.37 million during the first quarter.
• Analysts have mixed views on Tenaris, with a consensus rating of "Hold" and price targets ranging from $34 to $46, as reported by multiple research firms.

Interval Partners LP cut its position in Tenaris S.A. (NYSE:TS - Free Report) by 90.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,807 shares of the industrial products company's stock after selling 148,165 shares during the period. Interval Partners LP's holdings in Tenaris were worth $618,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in Tenaris by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company's stock valued at $316,000 after purchasing an additional 308 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Tenaris by 10.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company's stock worth $142,000 after buying an additional 347 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Tenaris by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company's stock worth $3,696,000 after purchasing an additional 386 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Tenaris by 4.3% in the 1st quarter. Advisors Asset Management Inc. now owns 9,408 shares of the industrial products company's stock worth $368,000 after purchasing an additional 390 shares in the last quarter. Finally, Brooklyn Investment Group boosted its stake in Tenaris by 169.5% in 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 in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Barclays dropped their target price on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Piper Sandler dropped their target price on shares of Tenaris from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, August 14th. Wall Street Zen lowered shares of Tenaris from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Sanford C. Bernstein started coverage on shares of Tenaris in a report on Monday, July 21st. They set an "outperform" rating for the company. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.20.

Tenaris Stock Performance

TS stock traded up $0.25 during midday trading on Thursday, reaching $35.82. 893,909 shares of the company were exchanged, compared to its average volume of 1,617,728. Tenaris S.A. has a 1-year low of $28.07 and a 1-year high of $40.87. The stock's 50-day simple moving average is $36.56 and its 200 day simple moving average is $35.78. The company has a market cap of $20.82 billion, a price-to-earnings ratio of 9.73, a price-to-earnings-growth ratio of 2.65 and a beta of 1.39.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $3.09 billion for 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%. Tenaris's quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, research analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 27th that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the industrial products company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management 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.