Victory Financial Group LLC Makes New Investment in Tenaris S.A. $TS

Victory Financial Group LLC bought a new position in shares of Tenaris S.A. (NYSE:TS) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 8,344 shares of the industrial products company’s stock, valued at approximately $460,000.

Several other institutional investors have also recently made changes to their positions in the business. Polaris Financial Partners purchased a new stake in Tenaris in the third quarter valued at $26,000. Allworth Financial LP grew its position in Tenaris by 116.0% during the 2nd quarter. Allworth Financial LP now owns 661 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 355 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Tenaris during the 2nd quarter valued at about $48,000. Rockefeller Capital Management L.P. raised its stake in shares of Tenaris by 378.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,802 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,425 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Tenaris by 24.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,713 shares of the industrial products company’s stock valued at $151,000 after buying an additional 533 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Stock Down 0.0%

Shares of NYSE TS opened at $60.29 on Thursday. The company’s 50-day simple moving average is $56.44 and its 200-day simple moving average is $55.75. Tenaris S.A. has a 52-week low of $37.69 and a 52-week high of $64.60. The firm has a market cap of $32.32 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, August 5th. The industrial products company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.16. Tenaris had a net margin of 15.88% and a return on equity of 11.14%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Equities research analysts anticipate that Tenaris S.A. will post 3.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TS. Barclays lowered their target price on Tenaris from $82.00 to $80.00 and set an “overweight” rating on the stock in a research note on Monday, August 10th. TD Cowen lifted their price target on Tenaris from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded Tenaris from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, October 6th. Finally, Morgan Stanley upped their price objective on Tenaris from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 14th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Tenaris has an average rating of “Moderate Buy” and a consensus price target of $63.96.

Tenaris Profile

Tenaris SA (NYSE: TS) is a global manufacturer and supplier of steel tubular products and related services. The company primarily serves the energy industry, producing seamless and welded steel pipes used in oil and natural gas exploration, production, transportation and processing. Its offerings include oil country tubular goods, line pipe, premium connections, coiled tubing and sucker rods.

Tenaris also supplies pipes for industrial and mechanical applications, including products used in power generation, automotive manufacturing, construction and other specialized industries.