TD Waterhouse Canada Inc. Sells 12,265 Shares of Tenaris S.A. $TS

TD Waterhouse Canada Inc. lowered its holdings in shares of Tenaris S.A. (NYSE:TS) by 46.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 14,157 shares of the industrial products company’s stock after selling 12,265 shares during the period. TD Waterhouse Canada Inc.’s holdings in Tenaris were worth $767,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Tenaris during the 4th quarter worth approximately $48,000. Raymond James Financial Inc. acquired a new position in shares of Tenaris during the 2nd quarter valued at $49,000. Advisory Services Network LLC bought a new position in Tenaris during the third quarter worth $47,000. Global Retirement Partners LLC grew its holdings in Tenaris by 1,066.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 1,376 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings in Tenaris by 4,675.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 1,543 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TS shares. Morgan Stanley dropped their price objective on shares of Tenaris from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, August 20th. Piper Sandler upped their price target on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Zacks Research lowered Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, TD Cowen upped their target price on Tenaris from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $62.45.

Tenaris Trading Up 1.1%

Shares of NYSE:TS opened at $57.58 on Thursday. The stock has a market cap of $30.86 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.36 and a beta of 0.85. The stock’s fifty day simple moving average is $55.30 and its two-hundred day simple moving average is $57.54. Tenaris S.A. has a 1-year low of $33.65 and a 1-year high of $64.60.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.79 by $0.16. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, sell-side analysts forecast that Tenaris S.A. will post 3.71 earnings per share for the current fiscal year.

About Tenaris

Tenaris SA (NYSE:TS) is a global manufacturer and supplier of steel pipe products and related services. The company primarily serves the energy industry, producing seamless and welded tubes used in oil and gas exploration, production, transportation and processing.

Its product portfolio includes oil country tubular goods, line pipe, mechanical and structural tubing, sucker rods, premium connections and other tubular accessories. Tenaris also provides engineering, logistics, pipe-management and on-site services designed to support customers throughout the life cycle of their tubular products.

Tenaris was formed in 2001 through the combination of steel-tube businesses associated with the Techint Group, including Siderca in Argentina, Dalmine in Italy and Tamsa in Mexico.