Greenleaf Trust purchased a new position in shares of Tenaris SA (NYSE:TS) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,591 shares of the industrial products company’s stock, valued at approximately $240,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI grew its holdings in Tenaris by 145.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 116,304 shares of the industrial products company’s stock valued at $4,032,000 after purchasing an additional 69,000 shares during the last quarter. American National Insurance Co. TX acquired a new stake in Tenaris in the first quarter valued at $205,000. Commerce Bank acquired a new stake in Tenaris in the first quarter valued at $236,000. Conning Inc. grew its holdings in Tenaris by 47.6% in the first quarter. Conning Inc. now owns 30,003 shares of the industrial products company’s stock valued at $1,040,000 after purchasing an additional 9,675 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Tenaris by 22.6% during the first quarter. Aperio Group LLC now owns 275,180 shares of the industrial products company’s stock valued at $9,540,000 after acquiring an additional 50,670 shares during the last quarter. Institutional investors and hedge funds own 13.58% of the company’s stock.
TS opened at $33.11 on Monday. The firm has a market cap of $20.35 billion, a P/E ratio of 43.00, a P/E/G ratio of 0.67 and a beta of 0.61. Tenaris SA has a 52 week low of $25.91 and a 52 week high of $40.64.
Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. Tenaris had a return on equity of 5.74% and a net margin of 10.21%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the company earned $0.06 EPS. The firm’s quarterly revenue was up 43.9% on a year-over-year basis. research analysts expect that Tenaris SA will post 1.42 EPS for the current year.
A number of analysts recently commented on TS shares. BNP Paribas raised Tenaris from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 21st. ValuEngine lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, June 16th. Cowen increased their price objective on Tenaris from $35.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, May 8th. Capital One Financial raised Tenaris from an “equal weight” rating to an “overweight” rating in a research note on Friday, April 27th. Finally, Zacks Investment Research lowered Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a research note on Friday, June 29th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $42.32.
Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
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