SIR Capital Management L.P. Invests $9.68 Million in Tenaris S.A. (NYSE:TS)

SIR Capital Management L.P. acquired a new position in shares of Tenaris S.A. (NYSE:TS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 317,169 shares of the industrial products company's stock, valued at approximately $9,680,000. SIR Capital Management L.P. owned approximately 0.05% of Tenaris at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TS. Balyasny Asset Management L.P. boosted its stake in shares of Tenaris by 91.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company's stock valued at $89,545,000 after purchasing an additional 1,228,287 shares in the last quarter. Acadian Asset Management LLC boosted its position in Tenaris by 20,284.0% during the 1st quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company's stock worth $21,623,000 after buying an additional 548,276 shares during the period. Kiltearn Partners LLP bought a new stake in Tenaris during the 4th quarter worth approximately $17,255,000. Van ECK Associates Corp increased its position in Tenaris by 10.9% in the 2nd quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company's stock valued at $97,154,000 after acquiring an additional 313,185 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Tenaris by 33.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company's stock valued at $40,154,000 after acquiring an additional 291,118 shares during the period. Institutional investors own 10.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com cut shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Monday, August 5th. Stifel Nicolaus reduced their price target on Tenaris from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Tuesday, August 6th. Finally, Piper Sandler decreased their price target 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Tenaris currently has a consensus rating of "Hold" and a consensus price target of $39.00.

Tenaris Price Performance

NYSE TS traded down $0.55 during mid-day trading on Tuesday, reaching $28.09. 1,491,556 shares of the stock were exchanged, compared to its average volume of 2,069,869. The stock has a market cap of $16.33 billion, a P/E ratio of 4.68 and a beta of 1.43. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The stock has a 50 day simple moving average of $29.63 and a 200-day simple moving average of $33.38.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.38). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $170.13 million. During the same period last year, the business posted $1.90 earnings per share. The business's revenue was down 18.5% on a year-over-year basis. Sell-side analysts anticipate that Tenaris S.A. will post 3.3 EPS for the current fiscal year.

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.