Allspring Global Investments Holdings LLC Acquires New Stake in Tenaris S.A. (NYSE:TS)

Allspring Global Investments Holdings LLC bought a new position in Tenaris S.A. (NYSE:TS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,043 shares of the industrial products company’s stock, valued at approximately $32,000.

A number of other large investors have also made changes to their positions in TS. Headlands Technologies LLC raised its holdings in Tenaris by 1,486.0% in the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,486 shares during the period. Janiczek Wealth Management LLC grew its stake in shares of Tenaris by 14.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 347 shares during the period. Blue Trust Inc. increased its holdings in Tenaris by 79.0% in the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 1,583 shares in the last quarter. Parallel Advisors LLC raised its stake in Tenaris by 20.3% during the 4th quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock worth $136,000 after acquiring an additional 660 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new position in Tenaris during the fourth quarter valued at approximately $229,000. 10.45% of the stock is currently owned by institutional investors.

Tenaris Stock Up 0.2 %

Shares of Tenaris stock opened at $28.63 on Tuesday. The business has a 50-day moving average price of $29.68 and a 200-day moving average price of $33.43. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 4.77 and a beta of 1.43.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business’s revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.90 EPS. On average, equities analysts expect that Tenaris S.A. will post 3.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TS has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Piper Sandler lowered their price target on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Tenaris has an average rating of “Hold” and an average target price of $39.00.

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.