Westwood Global Investments LLC Lowers Position in Tenaris S.A. (NYSE:TS)

Westwood Global Investments LLC lowered its stake in Tenaris S.A. (NYSE:TS) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,255,913 shares of the industrial products company’s stock after selling 64,530 shares during the quarter. Tenaris accounts for 12.6% of Westwood Global Investments LLC’s portfolio, making the stock its 3rd largest position. Westwood Global Investments LLC owned about 1.42% of Tenaris worth $251,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new position in shares of Tenaris in the 2nd quarter worth $32,000. Headlands Technologies LLC grew its stake in shares of Tenaris by 1,486.0% during the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,486 shares during the period. 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. Blue Trust Inc. lifted its stake in shares of Tenaris by 79.0% in the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,583 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of 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 buying an additional 660 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Price Performance

Shares of TS stock opened at $28.31 on Monday. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The company’s fifty day moving average price is $29.46 and its 200-day moving average price is $33.22. The company has a market capitalization of $16.46 billion, a price-to-earnings ratio of 4.72 and a beta of 1.43.

Tenaris (NYSE:TS) last issued its quarterly earnings results 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 business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The company’s quarterly revenue was down 18.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.90 EPS. Equities research analysts expect that Tenaris S.A. will post 3.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TS has been the topic of several recent research reports. Piper Sandler decreased their price target on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus cut their price target on Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $39.00.

Tenaris Company 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.