Clear Street Markets LLC Buys 17,564 Shares of Tenaris S.A. (NYSE:TS)

Clear Street Markets LLC raised its position in shares of Tenaris S.A. (NYSE:TSFree Report) by 8,782.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,764 shares of the industrial products company’s stock after acquiring an additional 17,564 shares during the period. Clear Street Markets LLC’s holdings in Tenaris were worth $617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TS. Wellington Management Group LLP lifted its holdings in shares of Tenaris by 101.5% in the 3rd quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock worth $27,723,000 after buying an additional 442,016 shares during the period. Ruffer LLP grew its holdings in Tenaris by 166.5% during the 4th quarter. Ruffer LLP now owns 177,306 shares of the industrial products company’s stock worth $6,164,000 after acquiring an additional 110,770 shares in the last quarter. Optiver Holding B.V. bought a new position in Tenaris during the 3rd quarter worth about $2,862,000. Capital Wealth Planning LLC increased its position in Tenaris by 73.0% during the 4th quarter. Capital Wealth Planning LLC now owns 55,290 shares of the industrial products company’s stock valued at $1,922,000 after purchasing an additional 23,322 shares during the period. Finally, Beck Bode LLC raised its holdings in shares of Tenaris by 2.3% in the 4th quarter. Beck Bode LLC now owns 35,112 shares of the industrial products company’s stock valued at $1,220,000 after purchasing an additional 782 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Stock Down 0.5 %

Shares of Tenaris stock traded down $0.15 on Wednesday, reaching $31.87. The stock had a trading volume of 897,344 shares, compared to its average volume of 1,981,000. Tenaris S.A. has a 1 year low of $27.32 and a 1 year high of $40.72. The company has a 50 day moving average price of $35.18 and a 200 day moving average price of $34.89. The stock has a market capitalization of $18.53 billion, a P/E ratio of 5.31, a P/E/G ratio of 0.30 and a beta of 1.48.

Tenaris (NYSE:TSGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.23. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. The business had revenue of $3.44 billion for the quarter, compared to the consensus estimate of $3.34 billion. On average, analysts forecast that Tenaris S.A. will post 3.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TS shares. Piper Sandler cut their price objective on shares of Tenaris from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Morgan Stanley downgraded Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.60.

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About Tenaris

(Free Report)

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.

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Institutional Ownership by Quarter for Tenaris (NYSE:TS)

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