Corigliano Investment Advisers LLC purchased a new stake in shares of Tenaris S.A. (NYSE:TS – Free Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 157,700 shares of the industrial products company’s stock, valued at approximately $6,064,000. Tenaris comprises 2.2% of Corigliano Investment Advisers LLC’s holdings, making the stock its 16th biggest holding.
A number of other hedge funds also recently bought and sold shares of the company. Sourcerock Group LLC boosted its holdings in Tenaris by 25.9% during the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after acquiring an additional 635,817 shares during the period. Wellington Management Group LLP boosted its holdings in Tenaris by 1.7% during the third quarter. Wellington Management Group LLP now owns 2,135,993 shares of the industrial products company’s stock valued at $76,404,000 after acquiring an additional 36,718 shares during the period. Van ECK Associates Corp boosted its holdings in Tenaris by 25.4% during the fourth quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock valued at $77,638,000 after acquiring an additional 408,592 shares during the period. Balyasny Asset Management L.P. boosted its holdings in Tenaris by 3.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock valued at $66,120,000 after acquiring an additional 53,155 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Tenaris by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,234,828 shares of the industrial products company’s stock valued at $47,481,000 after acquiring an additional 100,568 shares during the period. 10.45% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
TS has been the subject of several research reports. Stifel Nicolaus increased their target price on shares of Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Morgan Stanley reiterated an “underweight” rating and issued a $53.00 target price on shares of Tenaris in a research note on Thursday, May 14th. TD Cowen reiterated a “buy” rating on shares of Tenaris in a research note on Wednesday, March 18th. Weiss Ratings upgraded shares of Tenaris from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $49.70 target price on shares of Tenaris in a research note on Monday, February 23rd. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.12.
Tenaris Stock Performance
NYSE TS opened at $59.08 on Thursday. The firm has a 50-day simple moving average of $61.41 and a 200 day simple moving average of $52.03. Tenaris S.A. has a twelve month low of $33.65 and a twelve month high of $64.60. The stock has a market cap of $31.66 billion, a PE ratio of 15.63, a PEG ratio of 1.46 and a beta of 0.82.
Tenaris (NYSE:TS – Get Free Report) last released its earnings results on Thursday, May 7th. The industrial products company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.20. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.94 earnings per share. Research analysts forecast that Tenaris S.A. will post 3.67 earnings per share for the current fiscal year.
Tenaris Profile
Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.
Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.
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