Renaissance Technologies LLC Has $79.11 Million Stock Position in Tenaris S.A. (NYSE:TS)

Renaissance Technologies LLC raised its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 46.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,592,044 shares of the industrial products company's stock after purchasing an additional 819,500 shares during the quarter. Renaissance Technologies LLC owned 0.45% of Tenaris worth $79,109,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its position in Tenaris by 10.9% during the 2nd quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company's stock worth $97,154,000 after purchasing an additional 313,185 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings 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 worth $89,545,000 after buying an additional 1,228,287 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Tenaris by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company's stock valued at $70,009,000 after acquiring an additional 56,935 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Tenaris by 33.7% during 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 in the last quarter. Finally, Wellington Management Group LLP grew its position in Tenaris by 14.8% during the 4th quarter. Wellington Management Group LLP now owns 1,006,755 shares of the industrial products company's stock worth $34,995,000 after acquiring an additional 129,450 shares during the last quarter. Institutional investors own 10.45% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Stifel Nicolaus cut their price target on Tenaris from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. Piper Sandler decreased their price target on shares of Tenaris from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Monday, July 15th. Finally, StockNews.com lowered shares of Tenaris from a "buy" rating to a "hold" rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $39.00.

Tenaris Trading Up 2.0 %

TS stock traded up $0.58 during trading on Tuesday, hitting $29.30. The company had a trading volume of 1,387,399 shares, compared to its average volume of 2,025,070. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The business has a 50-day moving average of $29.40 and a 200-day moving average of $33.13. The stock has a market cap of $17.03 billion, a PE ratio of 4.88 and a beta of 1.43.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $170.13 million. During the same quarter in the previous year, the business posted $1.90 earnings per share. The business's revenue was down 18.5% on a year-over-year basis. Research analysts forecast that Tenaris S.A. will post 3.3 EPS for the current 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.