Wealth Enhancement Advisory Services LLC Reduces Stock Position in Tenaris S.A. (NYSE:TS)

Wealth Enhancement Advisory Services LLC lessened its stake in Tenaris S.A. (NYSE:TS) by 30.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,677 shares of the industrial products company’s stock after selling 11,371 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Tenaris were worth $816,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TS. Mediolanum International Funds Ltd acquired a new position in shares of Tenaris during the third quarter valued at approximately $17,129,000. International Assets Investment Management LLC acquired a new position in Tenaris during the third quarter worth $380,000. Greenleaf Trust acquired a new stake in shares of Tenaris in the third quarter valued at $304,000. Signaturefd LLC raised its stake in shares of Tenaris by 11.6% in the third quarter. Signaturefd LLC now owns 18,229 shares of the industrial products company’s stock valued at $580,000 after acquiring an additional 1,891 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Tenaris by 36.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler cut their price target on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus cut their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Finally, StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.67.

Tenaris Stock Performance

Shares of TS stock opened at $36.54 on Thursday. The stock’s 50-day moving average is $31.04 and its two-hundred day moving average is $31.43. The firm has a market cap of $21.24 billion, a price-to-earnings ratio of 7.79 and a beta of 1.43. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris Company Profile

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