QRG Capital Management Inc. Acquires 59,371 Shares of Tenaris S.A. (NYSE:TS)

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

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Tenaris by 78.9% during the 4th 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 last quarter. Headlands Technologies LLC purchased a new position in Tenaris during the 4th quarter worth $42,000. Smartleaf Asset Management LLC boosted its holdings in Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock worth $65,000 after acquiring an additional 1,284 shares during the last quarter. Covestor Ltd boosted its holdings in Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock worth $65,000 after acquiring an additional 469 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Tenaris by 93.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company's stock worth $66,000 after purchasing an additional 801 shares during the period. Institutional investors own 10.45% of the company's stock.

Tenaris Stock Performance

Shares of TS stock opened at $36.41 on Thursday. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.87. The stock has a 50 day moving average price of $33.89 and a two-hundred day moving average price of $36.52. The company has a market capitalization of $21.17 billion, a P/E ratio of 11.10, a PEG ratio of 2.77 and a beta of 1.27.

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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TS shares. BNP Paribas started coverage on Tenaris in a research note on Tuesday, April 22nd. They set an "outperform" rating on the stock. Stifel Nicolaus decreased their price target on Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley cut their price objective on Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a report on Friday, May 16th. Barclays set a $48.00 price objective on Tenaris and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen raised Tenaris from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Tenaris currently has an average rating of "Hold" and an average target price 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.

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