Tenaris S.A. (NYSE:TS) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its stake in shares of Tenaris S.A. (NYSE:TS - Free Report) by 283.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 80,338 shares of the industrial products company's stock after buying an additional 59,371 shares during the period. QRG Capital Management Inc.'s holdings in Tenaris were worth $3,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in Tenaris by 26.9% in the fourth quarter. Bank of New York Mellon Corp now owns 12,846 shares of the industrial products company's stock worth $485,000 after purchasing an additional 2,726 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Tenaris during the fourth quarter worth $968,000. US Bancorp DE lifted its position in shares of Tenaris by 7.5% during the fourth quarter. US Bancorp DE now owns 15,120 shares of the industrial products company's stock worth $571,000 after purchasing an additional 1,061 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Tenaris by 291.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock worth $65,000 after purchasing an additional 1,284 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Tenaris by 16.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,946 shares of the industrial products company's stock valued at $1,018,000 after buying an additional 3,814 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company's stock.

Tenaris Stock Performance

NYSE:TS traded down $0.04 during trading hours on Friday, reaching $36.45. The company's stock had a trading volume of 2,102,598 shares, compared to its average volume of 1,738,117. The company has a market capitalization of $21.19 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 2.74 and a beta of 1.27. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87. The stock has a 50 day moving average price of $34.08 and a two-hundred day moving average price of $36.48.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.80 by $0.14. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.88 billion. Tenaris had a return on equity of 10.54% and a net margin of 15.05%. The business's revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. As a group, analysts predict that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris declared that its board has approved a stock repurchase program on Tuesday, May 27th that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the industrial products company to reacquire up to 6.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TS. Piper Sandler lifted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Wall Street Zen raised Tenaris from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Morgan Stanley decreased their target price on Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. Stifel Nicolaus decreased their price objective 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 report on Tuesday, April 22nd. They issued an "outperform" rating for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $44.00.

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.