Posted by admin on Jul 29th, 2022

Truist Financial Corp boosted its holdings in shares of Tenaris S.A. (NYSE:TS – Get Rating) by 7.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,385 shares of the industrial products company’s stock after buying an additional 755 shares during the period. Truist Financial Corp’s holdings in Tenaris were worth $312,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. increased its position in Tenaris by 194.7% during the fourth quarter. Bessemer Group Inc. now owns 2,405 shares of the industrial products company’s stock worth $50,000 after buying an additional 1,589 shares during the last quarter. Fifth Third Bancorp acquired a new stake in shares of Tenaris in the fourth quarter valued at about $55,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Tenaris in the fourth quarter valued at about $79,000. Harbour Capital Advisors LLC acquired a new stake in shares of Tenaris in the first quarter valued at about $212,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Tenaris in the first quarter valued at about $228,000. 8.47% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on TS shares. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and raised their price target for the company from $35.70 to $46.00 in a research report on Thursday, July 7th. StockNews.com started coverage on Tenaris in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Credit Suisse Group raised their price target on Tenaris from €8.20 ($8.37) to €8.80 ($8.98) and gave the company an “underperform” rating in a research report on Monday, April 4th. Barclays raised their price target on Tenaris from $32.00 to $42.00 in a research report on Monday, May 9th. Finally, Piper Sandler lifted their target price on Tenaris from $52.00 to $60.00 in a research report on Friday, April 29th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Tenaris has an average rating of “Moderate Buy” and an average price target of $32.64.

TS stock opened at $26.95 on Friday. Tenaris S.A. has a twelve month low of $18.80 and a twelve month high of $34.76. The company has a market cap of $15.91 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.26 and a beta of 1.57. The business’s 50-day simple moving average is $28.52 and its 200 day simple moving average is $28.28.

Tenaris (NYSE:TS – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.17. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Tenaris had a net margin of 19.42% and a return on equity of 12.38%. On average, equities research analysts anticipate that Tenaris S.A. will post 3.74 EPS for the current year.

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, June 1st. Shareholders of record on Tuesday, May 24th were paid a dividend of $0.56 per share. The ex-dividend date was Monday, May 23rd. Tenaris’s dividend payout ratio is 44.09%.

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.

Want to see what other hedge funds are holding TS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenaris S.A. (NYSE:TS – Get Rating).

Receive News & Ratings for Tenaris Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenaris and related companies with MarketBeat.com's FREE daily email newsletter.

Truist Financial Corp Purchases 470 Shares of Alamo Group Inc. (NYSE:ALG)

Chipotle Mexican Grill, Inc. (NYSE:CMG) Expected to Earn FY2023 Earnings of $39.48 Per Share