Tenaris S.A. $TS Stake Raised by Ethic Inc.

Ethic Inc. grew its holdings in Tenaris S.A. (NYSE:TS) by 40.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 139,055 shares of the industrial products company’s stock after acquiring an additional 40,067 shares during the period. Ethic Inc.’s holdings in Tenaris were worth $7,673,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Renaissance Technologies LLC raised its holdings in shares of Tenaris by 7.9% during the first quarter. Renaissance Technologies LLC now owns 3,199,744 shares of the industrial products company’s stock valued at $186,161,000 after acquiring an additional 235,400 shares in the last quarter. Wellington Management Group LLP lifted its stake in Tenaris by 2.2% in the second quarter. Wellington Management Group LLP now owns 2,458,033 shares of the industrial products company’s stock worth $136,396,000 after acquiring an additional 52,999 shares during the period. Kiltearn Partners LLP purchased a new stake in Tenaris in the second quarter worth $9,642,000. Quantinno Capital Management LP boosted its holdings in Tenaris by 20.9% in the first quarter. Quantinno Capital Management LP now owns 146,347 shares of the industrial products company’s stock valued at $8,514,000 after acquiring an additional 25,271 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Tenaris by 0.5% in the first quarter. Lazard Asset Management LLC now owns 58,252 shares of the industrial products company’s stock valued at $3,389,000 after acquiring an additional 284 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Stock Performance

Shares of TS opened at $59.43 on Tuesday. The stock has a market cap of $31.85 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The firm’s 50-day simple moving average is $57.22 and its two-hundred day simple moving average is $56.41. Tenaris S.A. has a fifty-two week low of $37.69 and a fifty-two week high of $64.60.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.24%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter last year, the company earned $0.85 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that Tenaris S.A. will post 3.80 EPS for the current year.

Wall Street Analyst Weigh In

TS has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Tenaris from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday. Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. Zacks Research lowered shares of Tenaris from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Bank of America raised their price objective on shares of Tenaris from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, October 5th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $63.84.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel pipe products and related services, with a primary focus on the energy industry. Its products include casing and tubing used in oil and gas wells, line pipe for transporting fluids, and other tubular products for industrial applications.

The company also provides services such as pipe processing, engineering support, logistics, and assistance at drilling sites. Tenaris serves customers across a broad range of international markets, including the Americas, Europe, the Middle East, Africa, and Asia.

Tenaris was established in 2001, bringing together several established pipe manufacturers, including Argentina’s Siderca, Mexico’s Tamsa, and Italy’s Dalmine.