19,320 Shares in Tenaris S.A. (NYSE:TS) Acquired by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC purchased a new stake in Tenaris S.A. (NYSE:TS - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,320 shares of the industrial products company's stock, valued at approximately $614,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. O Shaughnessy Asset Management LLC increased its position in shares of 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 purchasing an additional 18,935 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 valued at $70,009,000 after purchasing an additional 56,935 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Tenaris during the 2nd quarter valued at $1,518,000. BNP Paribas Financial Markets increased its holdings in Tenaris by 30.8% in the 1st quarter. BNP Paribas Financial Markets now owns 103,580 shares of the industrial products company's stock worth $4,068,000 after acquiring an additional 24,372 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Tenaris by 133.2% in the 1st quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company's stock worth $2,501,000 after acquiring an additional 36,380 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TS has been the subject of several recent research reports. StockNews.com raised Tenaris from a "hold" rating to a "buy" rating in a report on Friday. Stifel Nicolaus decreased their price objective on Tenaris from $37.00 to $36.00 and set a "buy" rating for the company in a report on Friday, October 11th. Finally, Piper Sandler decreased their price objective on Tenaris from $43.00 to $40.00 and set an "overweight" rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Tenaris presently has an average rating of "Hold" and an average price target of $38.67.

Tenaris Stock Performance

NYSE TS traded up $0.10 during trading hours on Friday, hitting $31.73. The company had a trading volume of 1,871,862 shares, compared to its average volume of 1,990,680. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72. The firm has a 50 day simple moving average of $29.83 and a 200 day simple moving average of $32.05. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 6.77 and a beta of 1.43.

Tenaris (NYSE:TS - Get Free Report) last issued its 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). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $170.13 million. During the same quarter in the prior year, the business earned $1.90 EPS. The firm's revenue for the quarter was down 18.5% compared to the same quarter last year. On average, research analysts forecast that Tenaris S.A. will post 3.2 earnings per share for the current year.

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.