Highland Capital Management LLC Sells 4,605 Shares of Tenaris S.A. (NYSE:TS)

Highland Capital Management LLC lowered its holdings in shares of Tenaris S.A. (NYSE:TS) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,554 shares of the industrial products company’s stock after selling 4,605 shares during the quarter. Highland Capital Management LLC’s holdings in Tenaris were worth $1,665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust purchased a new stake in Tenaris during the fourth quarter valued at $210,000. Beck Bode LLC raised its holdings in Tenaris by 2.3% during the 4th quarter. Beck Bode LLC now owns 35,112 shares of the industrial products company’s stock valued at $1,220,000 after buying an additional 782 shares during the period. West Family Investments Inc. bought a new stake in Tenaris in the fourth quarter worth $218,000. Natixis Advisors L.P. boosted its stake in Tenaris by 7.2% during the fourth quarter. Natixis Advisors L.P. now owns 642,049 shares of the industrial products company’s stock worth $22,317,000 after buying an additional 43,223 shares during the period. Finally, Dana Investment Advisors Inc. bought a new position in Tenaris during the fourth quarter valued at $265,000. 10.45% of the stock is currently owned by institutional investors.

Tenaris Trading Up 0.9 %

TS stock traded up $0.25 during midday trading on Monday, reaching $28.70. The stock had a trading volume of 99,340 shares, compared to its average volume of 1,974,222. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.72. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 4.74 and a beta of 1.46. The company’s fifty day simple moving average is $30.09 and its 200 day simple moving average is $33.70.

Tenaris (NYSE:TS) last announced its quarterly earnings data 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). The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $170.13 million. Tenaris had a return on equity of 16.12% and a net margin of 20.41%. The business’s quarterly revenue was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.90 EPS. Sell-side analysts predict that Tenaris S.A. will post 3.52 EPS for the current year.

Wall Street Analysts Forecast Growth

TS has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on shares of Tenaris from $42.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. Piper Sandler dropped their price objective on Tenaris from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.00.

Tenaris 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.