BNP Paribas Financial Markets Cuts Stake in Tenaris S.A. (NYSE:TS)

BNP Paribas Financial Markets trimmed its position in shares of Tenaris S.A. (NYSE:TS) by 56.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 79,208 shares of the industrial products company’s stock after selling 103,261 shares during the quarter. BNP Paribas Financial Markets’ holdings in Tenaris were worth $2,753,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Tenaris by 101.5% during the 3rd quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock valued at $27,723,000 after acquiring an additional 442,016 shares during the last quarter. Sourcerock Group LLC purchased a new position in shares of Tenaris in the third quarter worth approximately $10,368,000. KGH Ltd purchased a new position in shares of Tenaris in the third quarter worth approximately $10,270,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Tenaris by 108.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 584,262 shares of the industrial products company’s stock worth $18,463,000 after buying an additional 303,656 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Tenaris by 6.4% in the third quarter. Van ECK Associates Corp now owns 4,279,660 shares of the industrial products company’s stock worth $135,238,000 after buying an additional 256,547 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of Tenaris from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Morgan Stanley downgraded shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.60.

Tenaris Trading Down 0.5 %

NYSE TS opened at $33.45 on Friday. Tenaris S.A. has a 12 month low of $24.69 and a 12 month high of $40.72. The stock has a market cap of $19.45 billion, a price-to-earnings ratio of 5.58, a PEG ratio of 0.31 and a beta of 1.51. The company’s 50 day moving average is $37.05 and its two-hundred day moving average is $35.04.

Tenaris (NYSE:TS) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.23. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. The company had revenue of $3.44 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Sell-side analysts forecast that Tenaris S.A. will post 3.89 EPS for the current year.

About Tenaris

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.