Dimensional Fund Advisors LP Cuts Stock Holdings in Tenaris S.A. $TS

Dimensional Fund Advisors LP cut its stake in Tenaris S.A. (NYSE:TS) by 9.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,121,007 shares of the industrial products company’s stock after selling 113,821 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Tenaris were worth $65,219,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in shares of Tenaris during the third quarter worth $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tenaris during the 4th quarter valued at about $48,000. Raymond James Financial Inc. purchased a new stake in Tenaris in the second quarter valued at about $49,000. Global Retirement Partners LLC raised its stake in Tenaris by 1,066.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after buying an additional 1,376 shares during the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Tenaris by 4,675.8% in the fourth quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 1,543 shares in the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings lowered Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Barclays lifted their target price on Tenaris to $82.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Piper Sandler raised their price target on shares of Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Zacks Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $62.12.

Tenaris Stock Performance

TS stock opened at $57.34 on Friday. Tenaris S.A. has a one year low of $33.65 and a one year high of $64.60. The firm’s fifty day moving average is $58.22 and its 200 day moving average is $55.64. The firm has a market cap of $30.73 billion, a PE ratio of 15.17, a P/E/G ratio of 1.38 and a beta of 0.84.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $0.94 EPS. Tenaris’s revenue was up 6.1% compared to the same quarter last year. Research analysts predict that Tenaris S.A. will post 3.66 earnings per share for the current fiscal year.

Tenaris Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.