Huntington National Bank Has $126,000 Position in Tenaris SA (TS)
Huntington National Bank continued to hold its stake in shares of Tenaris SA (NYSE:TS) during the second quarter, Holdings Channel reports. The fund owned 4,497 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in Tenaris SA were worth $126,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Independent Portfolio Consultants Inc. raised its stake in shares of Tenaris SA by 684.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,650 shares of the company’s stock valued at $163,000 after buying an additional 4,930 shares during the period. Avalon Advisors LLC purchased a new stake in shares of Tenaris SA during the first quarter valued at about $201,000. BlackRock Institutional Trust Company N.A. purchased a new stake in shares of Tenaris SA during the first quarter valued at about $832,000. Highland Capital Management LLC raised its stake in Tenaris SA by 4.0% in the second quarter. Highland Capital Management LLC now owns 46,409 shares of the company’s stock worth $1,338,000 after buying an additional 1,800 shares during the period. Finally, Bank of Montreal Can bought a new stake in Tenaris SA during the second quarter worth $1,345,000. 16.38% of the stock is owned by hedge funds and other institutional investors.
Tenaris SA (NYSE:TS) traded up 0.21% on Friday, hitting $29.13. The company’s stock had a trading volume of 1,655,511 shares. The firm’s market cap is $17.19 billion. The firm has a 50 day moving average of $27.44 and a 200 day moving average of $26.97. Tenaris SA has a 12 month low of $18.53 and a 12 month high of $29.89.
Tenaris SA (NYSE:TS) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Tenaris SA had a negative net margin of 7.40% and a negative return on equity of 3.33%. Tenaris SA’s quarterly revenue was down 40.0% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share. Equities research analysts forecast that Tenaris SA will post ($0.41) earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on TS shares. Zacks Investment Research raised Tenaris SA from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Wednesday, July 20th. Goldman Sachs Group Inc. lowered Tenaris SA from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 20th. Finally, Raymond James Financial Inc. reissued a “hold” rating on shares of Tenaris SA in a research note on Thursday, June 23rd. Four analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $29.33.
About Tenaris SA
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods used in drilling operations, and for other industrial applications with production processes.
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