Wealth Enhancement Advisory Services LLC Lowers Holdings in Tenaris S.A. (NYSE:TS)

Wealth Enhancement Advisory Services LLC decreased its position in Tenaris S.A. (NYSE:TS - Free Report) by 61.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,536 shares of the industrial products company's stock after selling 15,221 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Tenaris were worth $373,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in 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 purchased a new stake in Tenaris during the fourth quarter worth $42,000. Smartleaf Asset Management LLC lifted its holdings in Tenaris by 291.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock worth $65,000 after buying an additional 1,284 shares during the period. Covestor Ltd lifted its holdings in Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock worth $65,000 after buying an additional 469 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Tenaris by 93.2% during the first quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company's stock worth $66,000 after buying an additional 801 shares during the period. Hedge funds and other institutional investors own 10.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in 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 report on Friday, May 16th. Barclays set a $48.00 target price on Tenaris and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Wall Street Zen raised Tenaris from a "hold" rating to a "buy" rating in a research report on Saturday. BNP Paribas started coverage on Tenaris in a research report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Finally, Stifel Nicolaus reduced 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. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $44.00.

Tenaris Stock Down 0.9%

TS stock opened at $38.39 on Monday. The company's 50-day simple moving average is $34.90 and its 200-day simple moving average is $36.38. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.87. The firm has a market cap of $22.32 billion, a P/E ratio of 11.70, a PEG ratio of 2.89 and a beta of 1.29.

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

Tenaris declared that its Board of Directors has authorized a share buyback 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 repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Tenaris 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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