Dynamic Technology Lab Private Ltd acquired a new stake in Tenaris SA (NYSE:TS) during the second quarter, Holdings Channel reports. The fund acquired 7,844 shares of the company’s stock, valued at approximately $226,000.
Other institutional investors have also recently modified their holdings of the company. Avalon Advisors LLC bought a new position in Tenaris SA during the first quarter worth $201,000. A.R.T. Advisors LLC boosted its position in Tenaris SA by 45.9% in the first quarter. A.R.T. Advisors LLC now owns 258,409 shares of the company’s stock worth $6,398,000 after buying an additional 81,300 shares during the period. Legal & General Group Plc boosted its position in Tenaris SA by 28.1% in the first quarter. Legal & General Group Plc now owns 1,026,274 shares of the company’s stock worth $25,416,000 after buying an additional 225,100 shares during the period. AMP Capital Investors Ltd boosted its position in Tenaris SA by 183.6% in the first quarter. AMP Capital Investors Ltd now owns 163,339 shares of the company’s stock worth $4,035,000 after buying an additional 105,750 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Tenaris SA during the first quarter worth $3,083,000.
Shares of Tenaris SA (NYSE:TS) opened at 28.68 on Tuesday. Tenaris SA has a 52-week low of $18.53 and a 52-week high of $29.89. The firm’s 50-day moving average price is $27.45 and its 200-day moving average price is $26.87. The stock’s market cap is $16.93 billion.
Tenaris SA (NYSE:TS) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.04. The business earned $1.12 billion during the quarter, compared to analysts’ expectations of $1.13 billion. The business’s quarterly revenue was down 40.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. On average, equities research analysts forecast that Tenaris SA will post ($0.41) earnings per share for the current fiscal year.
TS has been the subject of a number of analyst reports. Zacks Investment Research raised Tenaris SA from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, July 20th. Goldman Sachs Group Inc. cut Tenaris SA from a “buy” rating to a “neutral” rating in a report on Wednesday, July 20th. Finally, Raymond James Financial Inc. reissued a “hold” rating on shares of Tenaris SA in a report on Thursday, June 23rd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock currently 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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