Lazard Asset Management LLC Lowers Position in Tenaris S.A. (NYSE:TS)

Lazard Asset Management LLC trimmed its holdings in shares of Tenaris S.A. (NYSE:TS) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,632 shares of the industrial products company’s stock after selling 3,191 shares during the quarter. Lazard Asset Management LLC’s holdings in Tenaris were worth $7,564,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TS. OLD Mission Capital LLC increased its position in shares of Tenaris by 55.7% during the first quarter. OLD Mission Capital LLC now owns 97,340 shares of the industrial products company’s stock valued at $3,823,000 after acquiring an additional 34,833 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Tenaris by 93.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,128 shares of the industrial products company’s stock valued at $1,537,000 after purchasing an additional 18,935 shares during the last quarter. Acadian Asset Management LLC raised its position in Tenaris by 20,284.0% in the first quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company’s stock valued at $21,623,000 after purchasing an additional 548,276 shares during the period. US Bancorp DE raised its position in Tenaris by 542.1% in the first quarter. US Bancorp DE now owns 86,351 shares of the industrial products company’s stock valued at $3,391,000 after purchasing an additional 72,902 shares during the period. Finally, QRG Capital Management Inc. acquired a new position in Tenaris during the first quarter worth $1,142,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TS shares. Morgan Stanley downgraded Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a report on Thursday, April 18th. Piper Sandler dropped their price objective on shares of Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tenaris has an average rating of “Hold” and an average target price of $40.00.

Tenaris Price Performance

TS opened at $31.59 on Monday. The business has a fifty day moving average price of $31.76 and a 200 day moving average price of $34.19. Tenaris S.A. has a 12 month low of $29.56 and a 12 month high of $40.72. The stock has a market capitalization of $18.37 billion, a price-to-earnings ratio of 5.31 and a beta of 1.46.

Tenaris (NYSE:TS) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.23. The business had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.34 billion. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. On average, research analysts anticipate that Tenaris S.A. will post 3.78 earnings per share for the current 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.