Ethic Inc. Increases Stock Position in Tenaris S.A. (NYSE:TS)

Ethic Inc. increased its position in shares of Tenaris S.A. (NYSE:TS) by 99.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,510 shares of the industrial products company’s stock after buying an additional 21,672 shares during the period. Ethic Inc.’s holdings in Tenaris were worth $953,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its holdings in Tenaris by 952.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,809 shares of the industrial products company’s stock worth $62,000 after buying an additional 2,542 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Tenaris by 116.3% during the second quarter. Van ECK Associates Corp now owns 7,080,357 shares of the industrial products company’s stock worth $155,060,000 after buying an additional 3,806,271 shares in the last quarter. Knowledge Leaders Capital LLC purchased a new stake in Tenaris during the second quarter worth $534,000. Vestmark Advisory Solutions Inc. purchased a new stake in Tenaris during the second quarter worth $335,000. Finally, WealthShield Partners LLC purchased a new stake in Tenaris during the second quarter worth $29,000. 9.33% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris stock opened at $20.11 on Wednesday. Tenaris S.A. has a 12-month low of $8.86 and a 12-month high of $24.15. The stock has a market cap of $11.87 billion, a P/E ratio of 25.14 and a beta of 1.88. The company has a 50-day moving average price of $20.23 and a 200 day moving average price of $21.73. The company has a current ratio of 3.20, a quick ratio of 1.73 and a debt-to-equity ratio of 0.02.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, August 4th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.30. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Tenaris had a net margin of 9.76% and a return on equity of 4.13%. As a group, analysts forecast that Tenaris S.A. will post 1.25 EPS for the current year.

A number of equities analysts have weighed in on TS shares. Zacks Investment Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research report on Friday, July 9th. Morgan Stanley upped their price objective on shares of Tenaris from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, July 9th. Finally, Barclays upped their price objective on shares of Tenaris from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tenaris has an average rating of “Hold” and an average target price of $22.00.

Tenaris Profile

Tenaris SA manufactures and supplies steel pipe products. The firm operates through the following business segments: Tubes and Other. The Tubes segment includes the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.

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Institutional Ownership by Quarter for Tenaris (NYSE:TS)

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