Tenaris S.A. (NYSE:TS) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,331,256 shares of the industrial products company's stock after selling 214,928 shares during the period. Wellington Management Group LLP owned about 0.40% of Tenaris worth $88,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Millennium Management LLC boosted its holdings in Tenaris by 38.2% in the fourth quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company's stock valued at $106,444,000 after purchasing an additional 778,021 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of Tenaris during the 4th quarter worth $41,569,000. ABC Arbitrage SA purchased a new stake in shares of Tenaris during the 4th quarter worth $31,581,000. Medina Value Partners LLC lifted its position in shares of Tenaris by 34.7% during the 4th quarter. Medina Value Partners LLC now owns 566,013 shares of the industrial products company's stock worth $21,390,000 after purchasing an additional 145,945 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Tenaris during the 4th quarter worth $20,271,000. Institutional investors and hedge funds own 10.45% of the company's stock.

Tenaris Stock Down 0.9%

Shares of Tenaris stock traded down $0.32 during trading hours on Friday, hitting $33.49. The company's stock had a trading volume of 1,115,153 shares, compared to its average volume of 1,752,730. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87. The business has a fifty day moving average of $33.91 and a 200 day moving average of $36.68. The company has a market capitalization of $19.47 billion, a PE ratio of 9.28 and a beta of 1.27.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. The business's quarterly revenue was down 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris declared that its board has approved a share buyback plan on Tuesday, May 27th that authorizes the company to buyback $1.20 billion in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 6.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Piper Sandler boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, February 25th. Morgan Stanley dropped their price objective on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Finally, BNP Paribas initiated coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They issued an "outperform" rating on the stock. Two investment 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 data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $44.00.

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.