XTX Topco Ltd Makes New $1.29 Million Investment in Tenaris S.A. (NYSE:TS)

XTX Topco Ltd bought a new position in shares of Tenaris S.A. (NYSE:TS) in the second quarter, Holdings Channel reports. The fund bought 42,227 shares of the industrial products company’s stock, valued at approximately $1,289,000.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp raised its stake in Tenaris by 10.9% in 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 purchasing an additional 313,185 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after buying an additional 819,500 shares in the last quarter. Balyasny Asset Management L.P. boosted 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 valued at $89,545,000 after buying an additional 1,228,287 shares during the period. Price T Rowe Associates Inc. MD grew its position in Tenaris by 3.3% during 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 buying an additional 56,935 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Tenaris by 33.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock worth $40,154,000 after acquiring an additional 291,118 shares during the period. Institutional investors own 10.45% of the company’s stock.

Tenaris Price Performance

NYSE TS opened at $29.51 on Friday. The business has a fifty day moving average price of $29.30 and a two-hundred day moving average price of $33.03. The stock has a market capitalization of $17.15 billion, a PE ratio of 4.92 and a beta of 1.43. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings data 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). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. During the same quarter in the prior year, the company earned $1.90 earnings per share. Tenaris’s quarterly revenue was down 18.5% compared to the same quarter last year. As a group, sell-side analysts expect that Tenaris S.A. will post 3.3 earnings per share for the current year.

Analyst Ratings Changes

TS has been the subject of several analyst reports. Piper Sandler dropped their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Stifel Nicolaus dropped their price target on Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, StockNews.com downgraded 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 issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.