Massachusetts Financial Services Co. MA Trims Holdings in Tenaris S.A. (NYSE:TS)

Massachusetts Financial Services Co. MA reduced its position in shares of Tenaris S.A. (NYSE:TS) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 585,170 shares of the industrial products company’s stock after selling 9,849 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Tenaris were worth $17,859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tenaris in the second quarter valued at $32,000. Headlands Technologies LLC grew 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 valued at $62,000 after buying an additional 1,486 shares during the period. Janiczek Wealth Management LLC grew its holdings in Tenaris by 14.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after buying an additional 347 shares during the period. Blue Trust Inc. increased its stake in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,583 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of 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. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler dropped their price target on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus cut their target price on Tenaris from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Tenaris has a consensus rating of “Hold” and a consensus price target of $39.00.

Tenaris Trading Down 0.7 %

Shares of Tenaris stock opened at $29.51 on Friday. The company has a fifty day moving average price of $29.30 and a 200 day moving average price of $33.03. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72. The stock has a market cap of $17.15 billion, a price-to-earnings ratio of 4.92 and a beta of 1.43.

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

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.