Manning & Napier Advisors LLC Takes $1.52 Million Position in Tenaris S.A. (NYSE:TS)

Manning & Napier Advisors LLC purchased a new position in shares of Tenaris S.A. (NYSE:TS) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 49,747 shares of the industrial products company’s stock, valued at approximately $1,518,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Janiczek Wealth Management LLC increased its position in shares of Tenaris by 14.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 347 shares during the last quarter. Parallel Advisors LLC raised its position in Tenaris by 20.3% in the fourth 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. Beck Bode LLC boosted its stake in Tenaris by 2.3% in the fourth quarter. Beck Bode LLC now owns 35,112 shares of the industrial products company’s stock valued at $1,220,000 after acquiring an additional 782 shares during the last quarter. Signaturefd LLC grew its position in shares of Tenaris by 5.2% during the 4th quarter. Signaturefd LLC now owns 15,695 shares of the industrial products company’s stock valued at $546,000 after acquiring an additional 782 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of Tenaris by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 10,595 shares of the industrial products company’s stock valued at $368,000 after acquiring an additional 800 shares during the period. 10.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TS has been the topic of several research analyst reports. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley cut Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research report on Thursday, April 18th. Stifel Nicolaus decreased their price objective on Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Piper Sandler dropped their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. One equities 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.00.

Tenaris Price Performance

Shares of NYSE:TS traded down $0.06 during trading on Friday, hitting $27.71. 2,089,488 shares of the company were exchanged, compared to its average volume of 2,024,328. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.72. The stock has a 50 day moving average of $30.96 and a 200 day moving average of $33.99. The company has a market cap of $16.11 billion, a PE ratio of 4.64 and a beta of 1.46.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The business’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Sell-side analysts forecast that Tenaris S.A. will post 3.61 EPS for the current fiscal 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.