Tenaris (NYSE:TS) Sees Large Volume Increase

Tenaris S.A. (NYSE:TS - Get Free Report) shares saw strong trading volume on Friday . 3,660,864 shares changed hands during mid-day trading, an increase of 82% from the previous session's volume of 2,007,678 shares.The stock last traded at $29.50 and had previously closed at $29.26.

Analyst Ratings Changes

Several brokerages have recently weighed in on TS. StockNews.com downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a report on Monday, August 5th. Piper Sandler dropped their target price on Tenaris from $43.00 to $40.00 and set an "overweight" rating on the stock in a research report on Monday, July 15th. Finally, Stifel Nicolaus cut their target price on Tenaris from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Tenaris has a consensus rating of "Hold" and a consensus target price of $39.00.

Tenaris Price Performance

The firm's 50-day moving average price is $29.87 and its 200 day moving average price is $33.57. The firm has a market capitalization of $17.26 billion, a price-to-earnings ratio of 4.95 and a beta of 1.46.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.38). The company had revenue of $3.32 billion during the quarter, compared to analysts' expectations of $170.13 million. Tenaris had a net margin of 20.41% and a return on equity of 16.12%. The firm's revenue was down 18.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. On average, analysts predict that Tenaris S.A. will post 3.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenaris

Several large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in Tenaris during the second quarter worth approximately $32,000. Headlands Technologies LLC increased its holdings 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 during the last quarter. Janiczek Wealth Management LLC raised its position in shares of Tenaris by 14.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company's stock worth $106,000 after buying an additional 347 shares during the period. Blue Trust Inc. boosted its holdings in 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 during the last quarter. Finally, Parallel Advisors LLC grew its position in Tenaris by 20.3% during the fourth quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company's stock valued at $136,000 after acquiring an additional 660 shares during the period. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.