Y Intercept Hong Kong Ltd Makes New $833,000 Investment in Tenaris S.A. (NYSE:TS)

Key Points

• Y Intercept Hong Kong Ltd has invested approximately $833,000 in Tenaris S.A. by purchasing 21,291 shares during the first quarter, indicating strong institutional interest in the stock.
• Tenaris recently reported an **earnings per share (EPS)** of $0.94 for the last quarter, exceeding estimates and showing a revenue of **$2.92 billion**, albeit down 15.1% year-over-year.
• The company has approved a **$1.20 billion stock buyback plan**, signaling a belief from its board that the stock is currently undervalued.

Y Intercept Hong Kong Ltd bought a new position in shares of Tenaris S.A. (NYSE:TS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,291 shares of the industrial products company's stock, valued at approximately $833,000.

Other institutional investors have also recently made changes to their positions in the company. Silvercrest Asset Management Group LLC grew its position in Tenaris by 0.4% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company's stock valued at $3,696,000 after buying an additional 386 shares during the period. Covestor Ltd grew its position in Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock valued at $65,000 after buying an additional 469 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tenaris by 46.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock valued at $71,000 after buying an additional 600 shares during the period. Quadrant Capital Group LLC grew its position in Tenaris by 6.9% during the fourth quarter. Quadrant Capital Group LLC now owns 10,629 shares of the industrial products company's stock valued at $402,000 after buying an additional 683 shares during the period. Finally, Virtus ETF Advisers LLC grew its position in Tenaris by 13.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,993 shares of the industrial products company's stock valued at $226,000 after buying an additional 706 shares during the period. Hedge funds and other institutional investors own 10.45% of the company's stock.

Tenaris Price Performance

TS traded down $0.21 on Tuesday, reaching $37.82. 313,288 shares of the company's stock were exchanged, compared to its average volume of 1,588,599. The stock has a market cap of $21.99 billion, a PE ratio of 11.52, a P/E/G ratio of 2.87 and a beta of 1.29. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.87. The stock's fifty day moving average price is $36.20 and its 200-day moving average price is $36.38.

Tenaris (NYSE:TS - Get Free Report) last posted 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 15.05% and a return on equity of 10.54%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $1.27 earnings per share. Tenaris's quarterly revenue was down 15.1% on a year-over-year basis. As a group, research analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris declared that its Board of Directors has approved a share repurchase program on Tuesday, May 27th that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TS. Stifel Nicolaus dropped their target price on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley dropped their target price on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. Sanford C. Bernstein began coverage on shares of Tenaris in a research report on Monday, July 21st. They issued an "outperform" rating on the stock. BNP Paribas began coverage on shares of Tenaris in a research report on Tuesday, April 22nd. They issued an "outperform" rating on the stock. Finally, Wall Street Zen lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus 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.