Mediolanum International Funds Ltd Invests $17.13 Million in Tenaris S.A. (NYSE:TS)

Mediolanum International Funds Ltd purchased a new stake in shares of Tenaris S.A. (NYSE:TS - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 538,820 shares of the industrial products company's stock, valued at approximately $17,129,000. Mediolanum International Funds Ltd owned about 0.09% of Tenaris as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Tenaris during the second quarter valued at about $32,000. Headlands Technologies LLC raised its stake in Tenaris by 1,486.0% in the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company's stock worth $62,000 after acquiring an additional 1,486 shares during the last quarter. Janiczek Wealth Management LLC increased its holdings in shares of Tenaris by 14.8% in the first quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company's stock valued at $106,000 after purchasing an additional 347 shares during the period. Blue Trust Inc. increased 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 purchasing an additional 1,583 shares during the period. Finally, Naples Global Advisors LLC purchased a new position in shares of Tenaris in the second quarter worth about $233,000. Institutional investors own 10.45% of the company's stock.

Tenaris Price Performance

TS stock traded up $0.77 during midday trading on Friday, hitting $32.16. 1,284,141 shares of the stock traded hands, compared to its average volume of 1,972,330. The stock's fifty day simple moving average is $30.13 and its 200-day simple moving average is $31.83. The firm has a market cap of $18.70 billion, a P/E ratio of 6.86 and a beta of 1.43. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72.

Tenaris (NYSE:TS - Get Free Report) last issued 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). 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 firm's revenue for the quarter was down 18.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.90 earnings per share. On average, research analysts predict that Tenaris S.A. will post 3.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TS. 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 research report on Monday, July 15th. Stifel Nicolaus lowered their price target on shares of Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Finally, StockNews.com upgraded Tenaris from a "hold" rating to a "buy" rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Tenaris has a consensus rating of "Hold" and a consensus target price of $38.67.

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.