Thornburg Investment Management Inc. Invests $796,000 in Tenaris S.A. (NYSE:TS)

Thornburg Investment Management Inc. bought a new position in shares of Tenaris S.A. (NYSE:TS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 21,063 shares of the industrial products company's stock, valued at approximately $796,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased 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 valued at $41,000 after purchasing an additional 478 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Tenaris during the 4th quarter valued at $42,000. Smartleaf Asset Management LLC increased 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 valued at $65,000 after purchasing an additional 1,284 shares in the last quarter. Covestor Ltd increased 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 valued at $65,000 after purchasing an additional 469 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Tenaris by 46.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 10.45% of the company's stock.

Tenaris Stock Up 0.6%

Tenaris stock traded up $0.20 during midday trading on Friday, hitting $32.59. 988,429 shares of the stock were exchanged, compared to its average volume of 1,758,757. The stock has a market capitalization of $18.94 billion, a PE ratio of 9.03 and a beta of 1.27. The company has a fifty day simple moving average of $34.57 and a two-hundred day simple moving average of $36.81. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.14. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the firm posted $1.27 earnings per share. The business's quarterly revenue was down 15.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TS shares. Morgan Stanley lowered their target price on Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Bank of America cut Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Barclays set a $48.00 target price on Tenaris and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Stifel Nicolaus lowered their target price on Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, BNP Paribas started coverage on Tenaris in a research note on Tuesday, April 22nd. They issued an "outperform" rating for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Tenaris currently has a consensus rating of "Hold" and an average target price of $44.00.

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.