Quantbot Technologies LP Acquires Shares of 92,477 Tenaris S.A. (NYSE:TS)

Quantbot Technologies LP bought a new stake in Tenaris S.A. (NYSE:TS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 92,477 shares of the industrial products company's stock, valued at approximately $2,822,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TS. Balyasny Asset Management L.P. grew its stake in shares of Tenaris by 91.1% in 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 acquiring an additional 1,228,287 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Tenaris by 20,284.0% during the first 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 in the last quarter. Kiltearn Partners LLP purchased a new stake in shares of Tenaris during the fourth quarter worth approximately $17,255,000. SIR Capital Management L.P. acquired a new stake in Tenaris in the second quarter valued at approximately $9,680,000. Finally, Van ECK Associates Corp lifted its stake in Tenaris by 10.9% in the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company's stock worth $97,154,000 after acquiring an additional 313,185 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company's stock.

Tenaris Trading Down 0.3 %

Shares of NYSE TS traded down $0.09 during trading hours on Wednesday, reaching $29.22. The stock had a trading volume of 1,688,779 shares, compared to its average volume of 2,023,202. The firm has a 50-day moving average of $29.40 and a 200-day moving average of $33.13. The firm has a market cap of $16.98 billion, a price-to-earnings ratio of 4.88 and a beta of 1.43. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris (NYSE:TS - Get Free Report) last announced its earnings results 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). The business 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%. The business's revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.90 earnings per share. On average, equities analysts predict that Tenaris S.A. will post 3.3 EPS for the current year.

Analysts Set New Price Targets

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

About Tenaris

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.