Quantinno Capital Management LP Boosts Stock Position in Tenaris S.A. $TS

Quantinno Capital Management LP increased its holdings in Tenaris S.A. (NYSE:TS) by 20.9% during the 1st quarter, Holdings Channel reports. The firm owned 146,347 shares of the industrial products company’s stock after buying an additional 25,271 shares during the period. Quantinno Capital Management LP’s holdings in Tenaris were worth $8,514,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Tenaris in the 4th quarter worth approximately $48,000. Raymond James Financial Inc. purchased a new position in shares of Tenaris during the second quarter valued at approximately $49,000. Advisory Services Network LLC purchased a new position in shares of Tenaris during the third quarter valued at approximately $47,000. Global Retirement Partners LLC raised its holdings in shares of Tenaris by 1,066.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 1,376 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its holdings in shares of Tenaris by 4,675.8% during the fourth quarter. TD Private Client Wealth LLC now owns 1,576 shares of the industrial products company’s stock valued at $61,000 after acquiring an additional 1,543 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Piper Sandler lifted their price target on shares of Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Morgan Stanley raised shares of Tenaris from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $53.00 to $65.00 in a research report on Wednesday, July 15th. Weiss Ratings lowered shares of Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Finally, Zacks Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.12.

Tenaris Trading Up 1.5%

Shares of Tenaris stock opened at $58.03 on Wednesday. Tenaris S.A. has a 12 month low of $33.65 and a 12 month high of $64.60. The firm has a market capitalization of $31.11 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.36 and a beta of 0.85. The business has a fifty day simple moving average of $58.03 and a two-hundred day simple moving average of $55.97.

Tenaris (NYSE:TS) last released its earnings results on Thursday, May 7th. The industrial products company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.99 billion. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. Analysts predict that Tenaris S.A. will post 3.75 earnings per share for the current 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.