Tenaris S.A. $TS Shares Sold by Legal & General Group Plc

Legal & General Group Plc decreased its position in shares of Tenaris S.A. (NYSE:TS) by 11.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 168,043 shares of the industrial products company’s stock after selling 21,209 shares during the period. Legal & General Group Plc’s holdings in Tenaris were worth $6,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BSW Wealth Partners grew its stake in shares of Tenaris by 3.0% during the 4th quarter. BSW Wealth Partners now owns 7,924 shares of the industrial products company’s stock worth $305,000 after purchasing an additional 232 shares during the period. Rhumbline Advisers grew its stake in shares of Tenaris by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after purchasing an additional 338 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Tenaris by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock worth $616,000 after purchasing an additional 352 shares during the period. MGO One Seven LLC grew its stake in Tenaris by 6.6% in the 4th quarter. MGO One Seven LLC now owns 6,003 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 374 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Tenaris by 1.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 23,591 shares of the industrial products company’s stock worth $844,000 after acquiring an additional 437 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of NYSE TS opened at $61.46 on Friday. The firm has a market cap of $32.94 billion, a PE ratio of 16.26, a PEG ratio of 1.49 and a beta of 0.82. The firm has a fifty day moving average of $60.88 and a 200 day moving average of $50.74. Tenaris S.A. has a one year low of $33.65 and a one year high of $64.60.

Tenaris (NYSE:TS) last announced its earnings results on Thursday, May 7th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.20. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company posted $0.94 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities analysts predict that Tenaris S.A. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TS has been the subject of several recent analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $53.00 price target on shares of Tenaris in a report on Thursday, May 14th. TD Cowen reissued a “buy” rating on shares of Tenaris in a report on Wednesday, March 18th. Stifel Nicolaus boosted their price target on shares of Tenaris from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Weiss Ratings raised shares of Tenaris from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Saturday. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.12.

Tenaris Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.