Van ECK Associates Corp Increases Stock Holdings in Tenaris S.A. (NYSE:TS)

Van ECK Associates Corp lifted its position in shares of Tenaris S.A. (NYSE:TS - Free Report) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,183,299 shares of the industrial products company's stock after purchasing an additional 313,185 shares during the quarter. Van ECK Associates Corp owned 0.55% of Tenaris worth $97,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Janiczek Wealth Management LLC increased its stake in shares of Tenaris by 14.8% in 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 in the last quarter. Parallel Advisors LLC increased its position 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 valued at $136,000 after buying an additional 660 shares in the last quarter. Signaturefd LLC raised its stake in shares of Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company's stock worth $499,000 after buying an additional 732 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Tenaris by 8.2% during the 4th quarter. Quadrant Capital Group LLC now owns 10,595 shares of the industrial products company's stock valued at $368,000 after buying an additional 800 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of Tenaris by 10.3% during the 1st quarter. Ballentine Partners LLC now owns 8,923 shares of the industrial products company's stock valued at $350,000 after buying an additional 834 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 traded up $0.43 during mid-day trading on Friday, reaching $29.69. The company's stock had a trading volume of 6,441,449 shares, compared to its average volume of 2,024,229. The stock has a 50-day moving average of $29.87 and a two-hundred day moving average of $33.57. The stock has a market capitalization of $17.26 billion, a P/E ratio of 4.95 and a beta of 1.46. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.97 by ($0.38). Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The business had revenue of $3.32 billion during the quarter, compared to analyst estimates of $170.13 million. During the same quarter in the previous year, the company posted $1.90 EPS. The firm's revenue was down 18.5% on a year-over-year basis. Analysts predict that Tenaris S.A. will post 3.37 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on TS. StockNews.com cut shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Monday, August 5th. Stifel Nicolaus decreased their price target on shares of Tenaris from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Finally, Piper Sandler cut their price objective on Tenaris from $43.00 to $40.00 and set an "overweight" rating for the company in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target 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.