Sei Investments Co. Sells 41,240 Shares of Tenaris S.A. (NYSE:TS)

Sei Investments Co. reduced its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 64.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,454 shares of the industrial products company's stock after selling 41,240 shares during the quarter. Sei Investments Co.'s holdings in Tenaris were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TS. Van ECK Associates Corp raised 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 buying an additional 313,185 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Tenaris by 46.2% during the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company's stock worth $79,109,000 after purchasing an additional 819,500 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Tenaris by 91.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company's stock worth $89,545,000 after purchasing an additional 1,228,287 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 buying an additional 56,935 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Tenaris by 33.7% in the fourth 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. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Stock Performance

NYSE TS traded up $0.13 during trading on Wednesday, hitting $31.76. 1,649,319 shares of the company's stock traded hands, compared to its average volume of 2,024,361. The stock has a market capitalization of $18.46 billion, a price-to-earnings ratio of 5.32 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 business has a 50 day moving average of $29.29 and a 200-day moving average of $32.38.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings data 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). 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 firm's quarterly revenue was down 18.5% on a year-over-year basis. On average, analysts expect that Tenaris S.A. will post 3.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TS. Stifel Nicolaus dropped their price target on Tenaris from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, August 6th. StockNews.com downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a report on Monday, August 5th. Finally, Piper Sandler dropped their target price 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.00.

Tenaris 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.