Tenaris S.A. $TS Stock Bought by Viewpoint Investment Partners Corp

Viewpoint Investment Partners Corp grew its position in shares of Tenaris S.A. (NYSE:TS) by 68.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,900 shares of the industrial products company’s stock after purchasing an additional 9,700 shares during the quarter. Viewpoint Investment Partners Corp’s holdings in Tenaris were worth $1,319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Polaris Financial Partners acquired a new position in shares of Tenaris in the third quarter valued at approximately $26,000. Allworth Financial LP lifted its stake in shares of Tenaris by 116.0% during the second quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock valued at $37,000 after buying an additional 355 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Tenaris during the second quarter valued at approximately $48,000. Rockefeller Capital Management L.P. lifted its stake in shares of Tenaris by 378.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,802 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,425 shares during the period. Finally, GAMMA Investing LLC boosted its position in Tenaris by 24.4% during the second quarter. GAMMA Investing LLC now owns 2,713 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 533 shares during the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on TS. Bank of America lifted their target price on shares of Tenaris from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Barclays cut their price target on Tenaris from $82.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Weiss Ratings lowered Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Zacks Research cut Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Tenaris currently has an average rating of “Moderate Buy” and a consensus price target of $63.96.

Tenaris Price Performance

TS opened at $59.37 on Tuesday. The stock has a market capitalization of $31.82 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. The business has a 50-day moving average of $56.04 and a two-hundred day moving average of $55.45. Tenaris S.A. has a 12 month low of $36.42 and a 12 month high of $64.60.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, August 5th. The industrial products company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates 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 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Tenaris S.A. will post 3.75 earnings per share for the current year.

About Tenaris

Tenaris SA (NYSE: TS) is a global manufacturer and supplier of steel tubular products and related services. The company primarily serves the energy industry, producing seamless and welded steel pipes used in oil and natural gas exploration, production, transportation and processing. Its offerings include oil country tubular goods, line pipe, premium connections, coiled tubing and sucker rods.

Tenaris also supplies pipes for industrial and mechanical applications, including products used in power generation, automotive manufacturing, construction and other specialized industries.