Tcfg Wealth Management LLC Takes $533,000 Position in Tenaris S.A. $TS

Key Points

• Tcfg Wealth Management LLC acquired a new position in Tenaris S.A. worth approximately $533,000 by purchasing 14,245 shares in the second quarter.
• Several large investors, including Alua Capital Management and Encompass Capital Advisors, have recently increased their stakes in Tenaris, indicating strong institutional interest in the company.
• Tenaris's stock currently holds a consensus rating of "Hold" with a target price of $41.80, reflecting mixed sentiment among analysts after various upgrades and downgrades.

Tcfg Wealth Management LLC bought a new stake in shares of Tenaris S.A. (NYSE:TS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,245 shares of the industrial products company's stock, valued at approximately $533,000.

Several other large investors also recently added to or reduced their stakes in TS. Alua Capital Management LP bought a new position in shares of Tenaris in the first quarter worth approximately $93,370,000. Encompass Capital Advisors LLC increased its holdings in shares of Tenaris by 90.7% in the 1st quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company's stock worth $82,035,000 after buying an additional 997,540 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Tenaris by 47.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 754,994 shares of the industrial products company's stock valued at $29,528,000 after buying an additional 241,290 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Tenaris by 109.6% during the 1st quarter. Northern Trust Corp now owns 462,542 shares of the industrial products company's stock worth $18,090,000 after acquiring an additional 241,853 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Tenaris by 3.1% in the first quarter. Royal Bank of Canada now owns 452,835 shares of the industrial products company's stock worth $17,710,000 after acquiring an additional 13,635 shares in the last quarter. Institutional investors own 10.45% of the company's stock.

Analyst Upgrades and Downgrades

TS has been the subject of several research analyst reports. Barclays dropped their price target on Tenaris from $48.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Piper Sandler lowered shares of Tenaris from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $48.00 to $41.00 in a report on Wednesday, September 17th. Wall Street Zen lowered Tenaris from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Sanford C. Bernstein began coverage on Tenaris in a research note on Monday, July 21st. They set an "outperform" rating for the company. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Tenaris in a research report on Saturday, September 27th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $41.80.

Tenaris Trading Down 0.6%

Tenaris stock opened at $36.17 on Tuesday. The company has a market capitalization of $21.03 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 2.75 and a beta of 1.33. The business's fifty day simple moving average is $35.71 and its two-hundred day simple moving average is $35.48. Tenaris S.A. has a 12 month low of $30.06 and a 12 month high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.11. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3 billion. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The firm's quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. On average, equities research analysts predict that Tenaris S.A. will post 3.14 EPS for the current year.

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.

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