OMERS ADMINISTRATION Corp Acquires 56,800 Shares of Tenaris S.A. $TS

Key Points

• OMERS ADMINISTRATION Corp increased its holdings in Tenaris S.A. by 525.9% in the first quarter, owning 67,600 shares valued at $2.64 million.
• Several other institutional investors, including Brooklyn Investment Group and Point72 Asia Singapore, also significantly boosted their positions in Tenaris during the same period.
• Analysts have mixed ratings for Tenaris, with six rating it as a Buy and a consensus target price of $43.20, while some companies have lowered their target prices.

OMERS ADMINISTRATION Corp raised its position in shares of Tenaris S.A. (NYSE:TS - Free Report) by 525.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,600 shares of the industrial products company's stock after acquiring an additional 56,800 shares during the period. OMERS ADMINISTRATION Corp's holdings in Tenaris were worth $2,644,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group boosted its stake in shares of Tenaris by 169.5% in the first quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company's stock valued at $28,000 after buying an additional 451 shares during the period. Harbour Investments Inc. bought a new stake in shares of Tenaris in the first quarter valued at approximately $39,000. Farther Finance Advisors LLC boosted its stake in shares of Tenaris by 93.2% in the first quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company's stock valued at $66,000 after buying an additional 801 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Tenaris by 46.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock valued at $71,000 after buying an additional 600 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Tenaris by 106.7% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,150 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 1,110 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Tenaris Stock Up 2.7%

Tenaris stock traded up $0.93 during trading hours on Thursday, reaching $35.89. 628,509 shares of the company's stock were exchanged, compared to its average volume of 1,588,081. The firm's 50 day simple moving average is $36.76 and its 200 day simple moving average is $35.89. Tenaris S.A. has a twelve month low of $27.59 and a twelve month high of $40.87. The firm has a market capitalization of $20.86 billion, a PE ratio of 9.75, a PEG ratio of 2.72 and a beta of 1.39.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate of $3 billion. During the same period last year, the business posted $0.59 EPS. The business's revenue was down 7.1% compared to the same quarter last year. Analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current year.

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

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.