Kiltearn Partners LLP Has $29.38 Million Position in Tenaris S.A. (NYSE:TS)

Kiltearn Partners LLP lifted its position in shares of Tenaris S.A. (NYSE:TS) by 49.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 743,959 shares of the industrial products company’s stock after acquiring an additional 247,559 shares during the quarter. Tenaris makes up about 2.7% of Kiltearn Partners LLP’s investment portfolio, making the stock its 14th largest position. Kiltearn Partners LLP owned approximately 0.13% of Tenaris worth $29,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Balyasny Asset Management L.P. increased its holdings in Tenaris by 91.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock valued at $89,545,000 after purchasing an additional 1,228,287 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Tenaris by 20,284.0% in the first quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company’s stock valued at $21,623,000 after purchasing an additional 548,276 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Tenaris by 33.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,155,173 shares of the industrial products company’s stock valued at $40,154,000 after purchasing an additional 291,118 shares during the last quarter. Optiver Holding B.V. increased its holdings in Tenaris by 290.0% in the fourth quarter. Optiver Holding B.V. now owns 353,193 shares of the industrial products company’s stock valued at $12,277,000 after purchasing an additional 262,632 shares during the last quarter. Finally, Appian Way Asset Management LP bought a new stake in Tenaris in the fourth quarter valued at about $6,435,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Trading Up 0.6 %

Shares of TS stock traded up $0.20 on Friday, hitting $31.84. 1,572,928 shares of the stock were exchanged, compared to its average volume of 1,525,258. The firm has a market capitalization of $18.51 billion, a P/E ratio of 5.31 and a beta of 1.46. The business has a 50-day moving average of $31.76 and a 200 day moving average of $34.19. Tenaris S.A. has a fifty-two week low of $29.56 and a fifty-two week high of $40.72.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.23. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. As a group, research analysts forecast that Tenaris S.A. will post 3.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TS. Piper Sandler dropped their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Morgan Stanley downgraded Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target for the company. in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $40.00.

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.