Ethic Inc. Raises Stake in Tenaris S.A. (NYSE:TS)

Ethic Inc. increased its holdings in Tenaris S.A. (NYSE:TS) by 99.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,510 shares of the industrial products company’s stock after buying an additional 21,672 shares during the period. Ethic Inc.’s holdings in Tenaris were worth $953,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in Tenaris by 4.7% during the 1st quarter. Quadrant Capital Group LLC now owns 9,644 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 436 shares in the last quarter. US Bancorp DE lifted its stake in Tenaris by 9.4% during the first quarter. US Bancorp DE now owns 10,264 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 886 shares during the last quarter. Profund Advisors LLC lifted its stake in Tenaris by 3.6% during the first quarter. Profund Advisors LLC now owns 25,964 shares of the industrial products company’s stock worth $589,000 after purchasing an additional 912 shares during the last quarter. Geode Capital Management LLC increased its position in Tenaris by 3.5% in the first quarter. Geode Capital Management LLC now owns 32,070 shares of the industrial products company’s stock worth $727,000 after buying an additional 1,098 shares during the period. Finally, Comerica Bank increased its position in Tenaris by 3.9% in the first quarter. Comerica Bank now owns 33,045 shares of the industrial products company’s stock worth $705,000 after buying an additional 1,241 shares during the period. 9.33% of the stock is owned by hedge funds and other institutional investors.

NYSE:TS opened at $20.11 on Wednesday. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 25.14 and a beta of 1.88. The company has a quick ratio of 1.73, a current ratio of 3.20 and a debt-to-equity ratio of 0.02. Tenaris S.A. has a 12-month low of $8.86 and a 12-month high of $24.15. The stock’s 50 day moving average price is $20.23 and its two-hundred day moving average price is $21.73.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, August 4th. The industrial products company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.30. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.39 billion. Tenaris had a return on equity of 4.13% and a net margin of 9.76%. Equities research analysts expect that Tenaris S.A. will post 1.25 EPS for the current year.

Several brokerages recently weighed in on TS. Barclays raised their target price on Tenaris from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, August 26th. Zacks Investment Research raised Tenaris from a “hold” rating to a “strong-buy” rating and set a $24.00 price target for the company in a research note on Friday, July 9th. Finally, Morgan Stanley raised their price objective on Tenaris from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tenaris presently has an average rating of “Hold” and an average target price of $22.00.

Tenaris Company Profile

Tenaris SA manufactures and supplies steel pipe products. The firm operates through the following business segments: Tubes and Other. The Tubes segment includes the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.

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Institutional Ownership by Quarter for Tenaris (NYSE:TS)

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