Massachusetts Financial Services Co. MA Has $29.53 Million Holdings in Tenaris S.A. (NYSE:TS)

Massachusetts Financial Services Co. MA raised its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 47.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 754,994 shares of the industrial products company's stock after acquiring an additional 241,290 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.13% of Tenaris worth $29,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in shares of Tenaris by 38.2% in the fourth quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company's stock worth $106,444,000 after acquiring an additional 778,021 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Tenaris in the fourth quarter valued at $41,569,000. Medina Value Partners LLC boosted its holdings in Tenaris by 34.7% in the fourth quarter. Medina Value Partners LLC now owns 566,013 shares of the industrial products company's stock valued at $21,390,000 after acquiring an additional 145,945 shares during the last quarter. Merewether Investment Management LP acquired a new position in shares of Tenaris during the 4th quarter worth about $20,271,000. Finally, Optiver Holding B.V. lifted its holdings in shares of Tenaris by 83.0% during the 4th quarter. Optiver Holding B.V. now owns 499,577 shares of the industrial products company's stock valued at $18,879,000 after purchasing an additional 226,514 shares in the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Stock Performance

TS traded up $0.83 during trading hours on Tuesday, reaching $37.79. The company's stock had a trading volume of 1,136,145 shares, compared to its average volume of 1,699,685. The company's 50-day moving average is $35.78 and its 200-day moving average is $36.39. The firm has a market cap of $21.97 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.29. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87.

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

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

Wall Street Analyst Weigh In

TS has been the subject of several recent analyst reports. Stifel Nicolaus decreased their target price on Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Sanford C. Bernstein started coverage on Tenaris in a report on Monday. They set an "outperform" rating on the stock. Wall Street Zen cut Tenaris from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. BNP Paribas initiated coverage on Tenaris in a research note on Tuesday, April 22nd. They issued an "outperform" rating for the company. Finally, Barclays set a $48.00 price objective on Tenaris and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $44.00.

About Tenaris

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.