Waddell & Reed Financial Inc. lessened its holdings in shares of Tenaris SA (NYSE:TS) by 35.5% in the second quarter, HoldingsChannel reports. The firm owned 1,317,540 shares of the industrial products company’s stock after selling 725,960 shares during the period. Waddell & Reed Financial Inc.’s holdings in Tenaris were worth $47,945,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of TS. Egerton Capital UK LLP acquired a new stake in Tenaris during the 2nd quarter worth approximately $247,843,000. Millennium Management LLC increased its position in Tenaris by 148.9% during the 1st quarter. Millennium Management LLC now owns 4,392,857 shares of the industrial products company’s stock worth $152,300,000 after purchasing an additional 2,628,095 shares in the last quarter. Arosa Capital Management LP acquired a new stake in Tenaris during the 1st quarter worth approximately $48,191,000. Renaissance Technologies LLC acquired a new stake in Tenaris during the 2nd quarter worth approximately $24,676,000. Finally, Point72 Asset Management L.P. grew its position in Tenaris by 189.0% in the second quarter. Point72 Asset Management L.P. now owns 418,400 shares of the industrial products company’s stock valued at $15,226,000 after acquiring an additional 273,600 shares in the last quarter. 13.97% of the stock is owned by hedge funds and other institutional investors.
TS stock opened at $32.50 on Monday. Tenaris SA has a twelve month low of $25.91 and a twelve month high of $40.64. The company has a market cap of $18.85 billion, a PE ratio of 42.26, a P/E/G ratio of 0.61 and a beta of 0.57.
Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, August 1st. The industrial products company reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Tenaris had a net margin of 10.21% and a return on equity of 5.74%. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $0.06 earnings per share. The business’s quarterly revenue was up 43.9% compared to the same quarter last year. research analysts expect that Tenaris SA will post 1.39 EPS for the current fiscal year.
Several brokerages have issued reports on TS. Exane BNP Paribas raised shares of Tenaris from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 21st. ValuEngine raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, June 27th. Zacks Investment Research downgraded shares of Tenaris from a “strong-buy” rating to a “hold” rating and set a $41.00 price objective for the company. in a research report on Friday, June 29th. Guggenheim reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Tenaris in a research report on Friday, August 3rd. Finally, Piper Jaffray Companies set a $44.00 price objective on shares of Tenaris and gave the company a “buy” rating in a research report on Thursday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $42.21.
Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
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