Balyasny Asset Management L.P. Buys 1,228,287 Shares of Tenaris S.A. (NYSE:TS)

Balyasny Asset Management L.P. increased its stake in shares of Tenaris S.A. (NYSE:TSFree Report) by 91.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,576,096 shares of the industrial products company’s stock after buying an additional 1,228,287 shares during the quarter. Balyasny Asset Management L.P. owned 0.44% of Tenaris worth $89,545,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. New York State Common Retirement Fund grew its stake in shares of Tenaris by 1.8% during the 3rd quarter. New York State Common Retirement Fund now owns 125,136 shares of the industrial products company’s stock worth $3,954,000 after acquiring an additional 2,155 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Tenaris by 19.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 9,946 shares of the industrial products company’s stock worth $314,000 after acquiring an additional 1,643 shares during the period. HighTower Advisors LLC grew its stake in shares of Tenaris by 6.3% during the 3rd quarter. HighTower Advisors LLC now owns 18,257 shares of the industrial products company’s stock worth $580,000 after acquiring an additional 1,085 shares during the period. Navellier & Associates Inc. grew its stake in shares of Tenaris by 3.2% during the 3rd quarter. Navellier & Associates Inc. now owns 70,836 shares of the industrial products company’s stock worth $2,238,000 after acquiring an additional 2,205 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Tenaris by 133.8% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 44,983 shares of the industrial products company’s stock worth $1,421,000 after acquiring an additional 25,740 shares during the period. Institutional investors own 10.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TS. Morgan Stanley cut 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. Piper Sandler dropped their price objective on Tenaris from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $41.60.

Check Out Our Latest Analysis on TS

Tenaris Trading Up 1.1 %

Shares of NYSE TS opened at $32.36 on Tuesday. The stock’s 50-day moving average is $35.50 and its 200 day moving average is $34.93. Tenaris S.A. has a 1-year low of $27.31 and a 1-year high of $40.72. The stock has a market cap of $18.81 billion, a price-to-earnings ratio of 5.39, a P/E/G ratio of 0.29 and a beta of 1.48.

Tenaris (NYSE:TSGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.23. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.34 billion. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. On average, analysts forecast that Tenaris S.A. will post 3.89 EPS for the current fiscal year.

Tenaris Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenaris S.A. (NYSE:TSFree Report).

Institutional Ownership by Quarter for Tenaris (NYSE:TS)

Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.