Squarepoint Ops LLC Acquires 55,747 Shares of Tenaris S.A. (NYSE:TS)

Squarepoint Ops LLC lifted its holdings in Tenaris S.A. (NYSE:TS) by 106.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 108,315 shares of the industrial products company’s stock after acquiring an additional 55,747 shares during the quarter. Squarepoint Ops LLC’s holdings in Tenaris were worth $3,306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in Tenaris by 93.8% in the first 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 grew its position in shares of Tenaris by 3.3% in 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 during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Tenaris during the 2nd quarter worth approximately $1,518,000. Balyasny Asset Management L.P. raised its stake in shares of Tenaris by 91.1% during 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 acquiring an additional 1,228,287 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Tenaris by 30.8% in the first quarter. BNP Paribas Financial Markets now owns 103,580 shares of the industrial products company’s stock valued at $4,068,000 after acquiring an additional 24,372 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Trading Up 1.6 %

NYSE:TS opened at $32.31 on Wednesday. The company has a market capitalization of $18.78 billion, a P/E ratio of 5.38 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 firm has a fifty day simple moving average of $29.22 and a 200-day simple moving average of $32.62.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business’s revenue was down 18.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 EPS. Equities analysts forecast that Tenaris S.A. will post 3.2 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Piper Sandler reduced 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 decreased their price target 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tenaris currently has an average rating of “Hold” and an average price target of $39.00.

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.