Renaissance Technologies LLC Buys 235,400 Shares of Tenaris S.A. $TS

Renaissance Technologies LLC boosted its position in shares of Tenaris S.A. (NYSE:TS) by 7.9% during the first quarter, Holdings Channel.com reports. The fund owned 3,199,744 shares of the industrial products company’s stock after acquiring an additional 235,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Tenaris were worth $186,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in TS. Advisory Services Network LLC bought a new position in shares of Tenaris in the third quarter worth approximately $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Tenaris during the 4th quarter valued at $48,000. Raymond James Financial Inc. purchased a new position in shares of Tenaris during the 2nd quarter valued at $49,000. Global Retirement Partners LLC lifted its stake in shares of Tenaris by 1,066.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after buying an additional 1,376 shares in the last quarter. Finally, TD Private Client Wealth LLC boosted its holdings in Tenaris by 4,675.8% in the 4th quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock worth $61,000 after buying an additional 1,543 shares during the period. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TS shares. Barclays increased their price target on Tenaris to $82.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Morgan Stanley upgraded Tenaris from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $53.00 to $65.00 in a research report on Wednesday, July 15th. Zacks Research raised Tenaris from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Piper Sandler increased their target price on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised Tenaris from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.12.

Tenaris Stock Up 0.5%

Shares of Tenaris stock opened at $57.66 on Friday. The firm has a market cap of $30.91 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.40 and a beta of 0.84. The business has a 50-day moving average price of $58.72 and a 200-day moving average price of $55.08. Tenaris S.A. has a twelve month low of $33.65 and a twelve month high of $64.60.

Tenaris (NYSE:TS) last issued its earnings results on Thursday, May 7th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.20. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, equities analysts expect that Tenaris S.A. will post 3.66 EPS for the current fiscal year.

Tenaris Company 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.