Tenaris S.A. $TS Shares Sold by Capital Insight Partners LLC

Key Points

• Capital Insight Partners LLC has reduced its stake in Tenaris S.A. by 74.7%, now holding 29,130 shares valued at approximately $1,089,000.
• During the second quarter, other institutional investors have also made significant adjustments, with ongoing investment activity suggesting a 10.45% ownership by hedge funds and other institutional investors.
• In its latest earnings report, Tenaris exceeded analysts’ expectations with an EPS of $0.99, despite experiencing a 7.1% year-over-year revenue decline.

Capital Insight Partners LLC decreased its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 74.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,130 shares of the industrial products company's stock after selling 85,932 shares during the quarter. Capital Insight Partners LLC's holdings in Tenaris were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TS. AdvisorNet Financial Inc purchased a new position in Tenaris in the second quarter valued at about $66,000. GAMMA Investing LLC grew its stake in shares of Tenaris by 52.5% in the second quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company's stock valued at $61,000 after buying an additional 563 shares in the last quarter. Viking Fund Management LLC raised its holdings in shares of Tenaris by 12.0% during the 2nd quarter. Viking Fund Management LLC now owns 28,000 shares of the industrial products company's stock valued at $1,047,000 after buying an additional 3,000 shares during the period. Baron Wealth Management LLC lifted its position in Tenaris by 7.0% during the 2nd quarter. Baron Wealth Management LLC now owns 5,852 shares of the industrial products company's stock worth $219,000 after acquiring an additional 384 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Tenaris during the 1st quarter worth approximately $5,458,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Price Performance

NYSE TS opened at $35.33 on Monday. The company has a market capitalization of $20.54 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 2.67 and a beta of 1.39. Tenaris S.A. has a 12 month low of $30.06 and a 12 month high of $40.87. The company's fifty day moving average price is $35.93 and its two-hundred day moving average price is $35.61.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Tenaris in a research note on Monday, July 21st. They set an "outperform" rating on the stock. Wall Street Zen lowered shares of Tenaris from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Barclays cut their price objective on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Piper Sandler downgraded Tenaris from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $48.00 to $41.00 in a research note on Wednesday, September 17th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $41.80.

Tenaris Company 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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