Creative Planning Purchases 2,352 Shares of Tenaris S.A. (NYSE:TS)

Creative Planning raised its position in shares of Tenaris S.A. (NYSE:TS) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,176 shares of the industrial products company’s stock after purchasing an additional 2,352 shares during the period. Creative Planning’s holdings in Tenaris were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Tenaris by 4.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,258 shares of the industrial products company’s stock worth $1,149,000 after acquiring an additional 1,359 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Tenaris during the 1st quarter valued at about $536,000. BNP Paribas Financial Markets increased its position in Tenaris by 30.8% during the 1st quarter. BNP Paribas Financial Markets now owns 103,580 shares of the industrial products company’s stock valued at $4,068,000 after buying an additional 24,372 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in Tenaris during the 1st quarter valued at about $257,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Tenaris during the 1st quarter valued at about $293,000. 10.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Piper Sandler reduced their target price on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus reduced their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, StockNews.com downgraded 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 assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.67.

Tenaris Stock Performance

Tenaris stock opened at $33.22 on Friday. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The company has a market cap of $19.31 billion, a PE ratio of 7.08 and a beta of 1.43. The business’s 50-day simple moving average is $30.66 and its two-hundred day simple moving average is $31.55.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.38). Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $170.13 million. During the same quarter in the previous year, the company earned $1.90 EPS. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. As a group, analysts predict that Tenaris S.A. will post 3.25 EPS for the current fiscal year.

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.