Tenaris S.A. (NYSE:TS) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 4,369.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,965 shares of the industrial products company's stock after acquiring an additional 41,026 shares during the quarter. GAMMA Investing LLC's holdings in Tenaris were worth $1,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Exencial Wealth Advisors LLC grew its position in Tenaris by 0.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company's stock valued at $1,905,000 after acquiring an additional 270 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Tenaris by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company's stock valued at $3,696,000 after acquiring an additional 386 shares during the last quarter. Signaturefd LLC grew its position in Tenaris by 2.3% in the 4th quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company's stock valued at $705,000 after acquiring an additional 418 shares during the last quarter. Covestor Ltd grew its position in shares of 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 buying an additional 469 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 478 shares in the last quarter. Institutional investors own 10.45% of the company's stock.

Tenaris Stock Performance

TS traded down $0.36 on Wednesday, hitting $36.41. The company had a trading volume of 2,086,999 shares, compared to its average volume of 1,746,988. The stock has a fifty day moving average price of $33.89 and a 200-day moving average price of $36.52. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.87. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 2.77 and a beta of 1.27.

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

Tenaris declared that its board has initiated a stock repurchase plan on Tuesday, May 27th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays set a $48.00 price target on Tenaris and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Piper Sandler increased their price target on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Stifel Nicolaus dropped 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. BNP Paribas assumed coverage on Tenaris in a research report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Finally, Wall Street Zen raised Tenaris from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $44.00.

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.