Ergoteles LLC Boosts Stock Position in Tenaris S.A. (NYSE:TS)

Posted by on Mar 4th, 2023

Ergoteles LLC lifted its holdings in Tenaris S.A. (NYSE:TS – Get Rating) by 25.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,315 shares of the industrial products company’s stock after purchasing an additional 2,701 shares during the quarter. Ergoteles LLC’s holdings in Tenaris were worth $344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TS. Ronald Blue Trust Inc. purchased a new position in Tenaris during the second quarter worth $26,000. Captrust Financial Advisors boosted its stake in Tenaris by 155.8% during the second quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock worth $29,000 after buying an additional 676 shares during the period. IFP Advisors Inc boosted its stake in Tenaris by 345.2% during the third quarter. IFP Advisors Inc now owns 926 shares of the industrial products company’s stock worth $45,000 after buying an additional 718 shares during the period. Point72 Hong Kong Ltd purchased a new position in Tenaris during the second quarter worth $76,000. Finally, Royal Bank of Canada boosted its stake in Tenaris by 149.1% during the first quarter. Royal Bank of Canada now owns 3,470 shares of the industrial products company’s stock worth $104,000 after buying an additional 2,077 shares during the period. 12.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TS has been the subject of a number of recent analyst reports. Cowen boosted their target price on shares of Tenaris from $45.00 to $49.00 in a research note on Friday, February 17th. StockNews.com raised shares of Tenaris from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 17th. JPMorgan Chase & Co. boosted their target price on shares of Tenaris from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, November 15th. Piper Sandler boosted their target price on shares of Tenaris from $33.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, November 18th. Finally, Grupo Santander lowered shares of Tenaris from an “outperform” rating to a “neutral” rating in a research note on Monday, November 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tenaris presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.64.

Tenaris Price Performance

TS stock opened at $34.79 on Friday. The business has a 50-day moving average price of $34.46 and a 200 day moving average price of $31.60. The company has a market capitalization of $20.54 billion, a P/E ratio of 8.03, a PEG ratio of 2.75 and a beta of 1.46. Tenaris S.A. has a 1-year low of $22.24 and a 1-year high of $38.00.

Tenaris Company Profile

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Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of 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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