Two Sigma Investments LP Has $2.94 Million Stock Position in Tenaris S.A. (NYSE:TS)

Two Sigma Investments LP cut its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 77.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 77,794 shares of the industrial products company's stock after selling 271,565 shares during the quarter. Two Sigma Investments LP's holdings in Tenaris were worth $2,940,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TS. EverSource Wealth Advisors LLC boosted its position in shares of Tenaris by 78.9% during the fourth 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 during the period. Headlands Technologies LLC bought a new stake in Tenaris in the 4th quarter valued at approximately $42,000. Smartleaf Asset Management LLC lifted its stake in Tenaris by 291.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock valued at $65,000 after acquiring an additional 1,284 shares in the last quarter. Covestor Ltd boosted its position in 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 acquiring an additional 469 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 worth $71,000 after acquiring an additional 600 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TS has been the topic of several recent research reports. BNP Paribas assumed coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They issued an "outperform" rating on the stock. Stifel Nicolaus lowered their target price on Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen raised Tenaris from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Piper Sandler raised their price target on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Finally, Barclays set a $48.00 price objective on Tenaris and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $44.00.

Tenaris Trading Down 1.6%

Shares of NYSE:TS traded down $0.57 on Wednesday, hitting $34.71. The company had a trading volume of 301,929 shares, compared to its average volume of 1,741,389. The stock has a market cap of $20.18 billion, a price-to-earnings ratio of 9.61 and a beta of 1.27. The stock has a 50 day moving average price of $33.72 and a 200 day moving average price of $36.65. Tenaris S.A. has a 1-year low of $27.24 and a 1-year 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 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.14. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.88 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. Tenaris's quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 EPS. Sell-side analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 27th that allows the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

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.