Caprock Group LLC Sells 2,059 Shares of Tenaris S.A. (NYSE:TS)

Caprock Group LLC decreased its stake in Tenaris S.A. (NYSE:TS) by 12.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,980 shares of the industrial products company’s stock after selling 2,059 shares during the period. Caprock Group LLC’s holdings in Tenaris were worth $457,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its stake in shares of Tenaris by 93.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 39,128 shares of the industrial products company’s stock worth $1,537,000 after purchasing an additional 18,935 shares in the last quarter. Ruffer LLP increased its stake in shares of Tenaris by 166.5% in the fourth quarter. Ruffer LLP now owns 177,306 shares of the industrial products company’s stock worth $6,164,000 after purchasing an additional 110,770 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Tenaris by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after purchasing an additional 56,935 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Tenaris in the second quarter worth about $1,518,000. Finally, Balyasny Asset Management L.P. increased its stake in shares of Tenaris by 91.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock worth $89,545,000 after purchasing an additional 1,228,287 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Price Performance

TS stock opened at $28.33 on Friday. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The stock has a market cap of $16.47 billion, a PE ratio of 4.72 and a beta of 1.43. The firm has a 50 day simple moving average of $29.51 and a two-hundred day simple moving average of $33.31.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on TS. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Piper Sandler reduced their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Tenaris currently has a consensus rating of “Hold” and a consensus price target of $39.00.

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.