Northern Trust Corp Sells 88,259 Shares of Tenaris S.A. (NYSE:TS)

Northern Trust Corp lowered its stake in Tenaris S.A. (NYSE:TS - Free Report) by 28.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,689 shares of the industrial products company's stock after selling 88,259 shares during the period. Northern Trust Corp's holdings in Tenaris were worth $8,340,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Exencial Wealth Advisors LLC lifted its holdings in shares of Tenaris by 0.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company's stock worth $1,905,000 after purchasing an additional 270 shares during the period. Signaturefd LLC lifted its holdings in shares of Tenaris by 2.3% during the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company's stock worth $705,000 after purchasing an additional 418 shares during the period. Covestor Ltd lifted its holdings in shares of Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock worth $65,000 after purchasing an additional 469 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock worth $41,000 after purchasing an additional 478 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in shares of Tenaris by 6.1% during the fourth quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company's stock worth $337,000 after purchasing an additional 516 shares during the period. Institutional investors and hedge funds own 10.45% of the company's stock.

Tenaris Stock Up 0.6%

TS traded up $0.20 during midday trading on Friday, hitting $32.59. The company had a trading volume of 988,429 shares, compared to its average volume of 1,758,757. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 9.03 and a beta of 1.27. The stock's 50 day moving average price is $34.57 and its 200 day moving average price is $36.81.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.14. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $1.27 earnings per share. The business's revenue was down 15.1% compared to the same quarter last year. Research analysts predict that Tenaris S.A. will post 3.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TS. Piper Sandler lifted their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Wall Street Zen upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a report on Monday, May 5th. Bank of America lowered shares of Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Stifel Nicolaus dropped their target price on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley dropped their target price on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Tenaris has a consensus rating of "Hold" and a consensus price target of $44.00.

Tenaris Company 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.