Tenaris S.A. $TS Shares Purchased by Ethic Inc.

Ethic Inc. boosted its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 9.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,531 shares of the industrial products company's stock after purchasing an additional 10,397 shares during the quarter. Ethic Inc.'s holdings in Tenaris were worth $4,560,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TS. Alua Capital Management LP acquired a new position in Tenaris in the first quarter worth $93,370,000. Encompass Capital Advisors LLC boosted its holdings in Tenaris by 90.7% in the first quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company's stock worth $82,035,000 after purchasing an additional 997,540 shares during the period. Northern Trust Corp boosted its holdings in Tenaris by 109.6% in the first quarter. Northern Trust Corp now owns 462,542 shares of the industrial products company's stock worth $18,090,000 after purchasing an additional 241,853 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Tenaris by 47.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 754,994 shares of the industrial products company's stock worth $29,528,000 after purchasing an additional 241,290 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Tenaris in the first quarter worth $5,458,000. Institutional investors and hedge funds own 10.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TS shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tenaris in a report on Tuesday, October 14th. BNP Paribas Exane reaffirmed a "neutral" rating on shares of Tenaris in a report on Friday, October 10th. Piper Sandler downgraded shares of Tenaris from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $48.00 to $41.00 in a report on Wednesday, September 17th. 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 research report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a research report on Saturday, October 18th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $41.80.

Tenaris Stock Performance

Tenaris stock opened at $36.69 on Friday. The company has a 50-day simple moving average of $35.51 and a 200-day simple moving average of $35.25. The firm has a market capitalization of $21.33 billion, a P/E ratio of 9.97 and a beta of 1.33. Tenaris S.A. has a one year low of $30.06 and a one year high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.88 by $0.11. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The company's quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. As a group, sell-side analysts forecast that Tenaris S.A. will post 3.14 earnings per share 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.

Want to see what other hedge funds are holding TS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenaris S.A. (NYSE:TS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.