Quadrant Capital Group LLC increased its stake in shares of Tenaris SA (NYSE:TS) by 59.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 11,448 shares of the industrial products company’s stock after acquiring an additional 4,268 shares during the quarter. Quadrant Capital Group LLC’s holdings in Tenaris were worth $298,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC bought a new position in shares of Tenaris during the first quarter valued at approximately $29,000. Icon Wealth Partners LLC acquired a new stake in Tenaris in the 1st quarter worth about $44,000. Macquarie Group Ltd. acquired a new stake in Tenaris in the 4th quarter worth about $42,000. Rehmann Capital Advisory Group boosted its holdings in Tenaris by 292.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 4,861 shares of the industrial products company’s stock worth $137,000 after buying an additional 3,621 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in Tenaris in the 1st quarter worth about $219,000. Institutional investors and hedge funds own 14.32% of the company’s stock.
TS traded down $0.51 during trading on Monday, reaching $23.49. The company’s stock had a trading volume of 146,278 shares, compared to its average volume of 2,492,154. The company has a current ratio of 3.13, a quick ratio of 1.75 and a debt-to-equity ratio of 0.02. The stock has a fifty day simple moving average of $25.74. Tenaris SA has a 1 year low of $20.45 and a 1 year high of $35.86. The company has a market capitalization of $14.17 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10.
Tenaris (NYSE:TS) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. Tenaris had a net margin of 12.28% and a return on equity of 8.00%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $2 billion. During the same period last year, the company posted $0.20 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Tenaris SA will post 1.53 earnings per share for the current fiscal year.
TS has been the topic of several research analyst reports. TheStreet upgraded Tenaris from a “c+” rating to a “b-” rating in a report on Friday, May 3rd. ValuEngine cut Tenaris from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Cowen reiterated a “market perform” rating and issued a $28.00 price objective (down from $29.00) on shares of Tenaris in a report on Monday. Zacks Investment Research upgraded Tenaris from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Stifel Nicolaus lowered their price objective on Tenaris from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Tenaris presently has a consensus rating of “Hold” and a consensus target price of $32.42.
Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides 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, perforating guns, tubular accessories, and non-tubular accessories and devices.
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