Tenaris S.A. (NYSE:TS) Stake Lessened by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its holdings in shares of Tenaris S.A. (NYSE:TS) by 1.6% during the first quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TS. Headlands Technologies LLC increased its holdings in shares of Tenaris by 1,486.0% in the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,486 shares during the period. Janiczek Wealth Management LLC lifted its position in Tenaris by 14.8% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock worth $106,000 after buying an additional 347 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Tenaris by 20.3% during the 4th quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock valued at $136,000 after buying an additional 660 shares during the period. Greenleaf Trust purchased a new position in shares of Tenaris during the 4th quarter valued at $210,000. Finally, West Family Investments Inc. acquired a new position in shares of Tenaris in the fourth quarter worth $218,000. 10.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Piper Sandler lowered their target price on Tenaris from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.00.

Tenaris Trading Down 0.8 %

Shares of NYSE:TS opened at $31.59 on Monday. Tenaris S.A. has a 1 year low of $29.56 and a 1 year high of $40.72. The firm has a fifty day moving average price of $31.76 and a 200 day moving average price of $34.19. The stock has a market capitalization of $18.37 billion, a PE ratio of 5.31 and a beta of 1.46.

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

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.