Silvercrest Asset Management Group LLC Has $3.48 Million Stock Position in Tenaris S.A. (NYSE:TS)

Silvercrest Asset Management Group LLC raised its stake in shares of Tenaris S.A. (NYSE:TS) by 120.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 88,691 shares of the industrial products company’s stock after purchasing an additional 48,482 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Tenaris were worth $3,483,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TS. Balyasny Asset Management L.P. grew its position 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 buying an additional 1,228,287 shares during the period. Acadian Asset Management LLC increased its stake in Tenaris by 20,284.0% during the 1st quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company’s stock worth $21,623,000 after purchasing an additional 548,276 shares in the last quarter. Kiltearn Partners LLP bought a new stake in Tenaris during the 4th quarter worth approximately $17,255,000. 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 purchasing an additional 291,118 shares in the last quarter. Finally, Optiver Holding B.V. increased its stake in Tenaris by 290.0% during the 4th quarter. Optiver Holding B.V. now owns 353,193 shares of the industrial products company’s stock worth $12,277,000 after purchasing an additional 262,632 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Price Performance

NYSE:TS traded down $0.24 during trading hours on Tuesday, reaching $31.34. 2,102,497 shares of the stock were exchanged, compared to its average volume of 1,951,381. Tenaris S.A. has a twelve month low of $29.56 and a twelve month high of $40.72. The firm has a 50 day moving average of $31.70 and a 200 day moving average of $34.18. The stock has a market cap of $18.22 billion, a PE ratio of 5.25 and a beta of 1.46.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TS. Morgan Stanley cut Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 target price for the company. in a research note on Thursday, April 18th. Piper Sandler lowered their target price on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.00.

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.