Headlands Technologies LLC Raises Holdings in Tenaris S.A. (NYSE:TS)

Headlands Technologies LLC increased its stake in shares of Tenaris S.A. (NYSE:TS - Free Report) by 1,885.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,494 shares of the industrial products company's stock after buying an additional 29,908 shares during the quarter. Headlands Technologies LLC's holdings in Tenaris were worth $961,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC lifted its stake in Tenaris by 93.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,128 shares of the industrial products company's stock valued at $1,537,000 after acquiring an additional 18,935 shares during the period. Ruffer LLP boosted its holdings in Tenaris by 166.5% in the fourth quarter. Ruffer LLP now owns 177,306 shares of the industrial products company's stock valued at $6,164,000 after purchasing an additional 110,770 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Tenaris by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company's stock worth $70,009,000 after purchasing an additional 56,935 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Tenaris during the 2nd quarter worth about $1,518,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of Tenaris by 91.1% during the 4th 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 buying an additional 1,228,287 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Price Performance

TS stock traded up $0.12 during mid-day trading on Thursday, reaching $28.33. 2,026,552 shares of the company's stock were exchanged, compared to its average volume of 2,035,545. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 4.70 and a beta of 1.43. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.72. The stock's 50 day moving average is $29.57 and its 200 day moving average is $33.34.

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

Wall Street Analyst Weigh In

TS has been the topic of several analyst reports. StockNews.com lowered Tenaris from a "buy" rating to a "hold" rating in a report on Monday, August 5th. Piper Sandler dropped their price objective on shares of Tenaris from $43.00 to $40.00 and set an "overweight" rating on the stock in a research note on Monday, July 15th. Finally, Stifel Nicolaus decreased their target price on shares of Tenaris from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Tenaris presently has an average rating of "Hold" and an average target price 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.