Quantbot Technologies LP Invests $2.82 Million in Tenaris S.A. (NYSE:TS)

Quantbot Technologies LP bought a new stake in shares of Tenaris S.A. (NYSE:TS) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 92,477 shares of the industrial products company’s stock, valued at approximately $2,822,000.

Several other hedge funds also recently added to or reduced their stakes in TS. Balyasny Asset Management L.P. boosted its stake in shares of Tenaris by 91.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock worth $89,545,000 after acquiring an additional 1,228,287 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Tenaris by 20,284.0% in the first quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company’s stock valued at $21,623,000 after purchasing an additional 548,276 shares during the period. Kiltearn Partners LLP acquired a new stake in Tenaris in the fourth quarter valued at approximately $17,255,000. SIR Capital Management L.P. purchased a new stake in shares of Tenaris in the second quarter valued at approximately $9,680,000. Finally, Van ECK Associates Corp raised its stake in shares of Tenaris by 10.9% during the 2nd quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock worth $97,154,000 after buying an additional 313,185 shares during the period. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Up 2.0 %

Shares of NYSE TS opened at $29.30 on Wednesday. The stock has a market capitalization of $17.03 billion, a price-to-earnings ratio of 4.88 and a beta of 1.43. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72. The firm has a 50-day simple moving average of $29.40 and a 200-day simple moving average of $33.13.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share 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 business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $170.13 million. During the same period last year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was down 18.5% compared to the same quarter last year. As a group, equities research analysts expect that Tenaris S.A. will post 3.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Stifel Nicolaus cut their price target on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Piper Sandler cut their target price 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, StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.00.

About Tenaris

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.