Cubist Systematic Strategies LLC Grows Stock Holdings in Tenaris S.A. (NYSE:TS)

Cubist Systematic Strategies LLC grew its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 69.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 482,376 shares of the industrial products company's stock after purchasing an additional 198,128 shares during the period. Cubist Systematic Strategies LLC owned about 0.08% of Tenaris worth $14,722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tenaris in the second quarter valued at approximately $32,000. Headlands Technologies LLC grew its position in shares of Tenaris by 1,486.0% during the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company's stock worth $62,000 after buying an additional 1,486 shares in the last quarter. Janiczek Wealth Management LLC increased its stake in shares of Tenaris by 14.8% during the first quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company's stock valued at $106,000 after buying an additional 347 shares during the period. Blue Trust Inc. raised its holdings in shares of Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company's stock valued at $110,000 after acquiring an additional 1,583 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake in Tenaris by 20.3% in the fourth quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company's stock worth $136,000 after acquiring an additional 660 shares during the period. 10.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler reduced their price target on shares of Tenaris from $43.00 to $40.00 and set an "overweight" rating for the company in a report on Monday, July 15th. 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, StockNews.com downgraded Tenaris from a "buy" rating to a "hold" rating in a research 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $39.00.

Tenaris Stock Performance

Shares of NYSE TS traded up $0.05 during midday trading on Wednesday, reaching $30.70. 2,023,132 shares of the stock were exchanged, compared to its average volume of 2,018,757. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72. The stock has a market capitalization of $17.85 billion, a P/E ratio of 5.12 and a beta of 1.43. The company has a 50 day simple moving average of $29.24 and a 200 day simple moving average of $32.87.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing the consensus estimate 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 for the quarter was down 18.5% on a year-over-year basis. During the same period last year, the company earned $1.90 EPS. On average, research analysts expect that Tenaris S.A. will post 3.18 earnings per share 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.