Alua Capital Management LP Takes $93.37 Million Position in Tenaris S.A. $TS

Key Points

• Alua Capital Management LP has invested approximately $93.37 million in Tenaris S.A., acquiring 2,387,363 shares, making it the firm's 5th largest holding.
• Tenaris reported EPS of $0.99 for the recent quarter, exceeding estimates of $0.88, although revenue fell 7.1% compared to the previous year at $3.09 billion.
• The company has a stock buyback program approved for $1.20 billion, indicating management's belief that the stock is currently undervalued.

Alua Capital Management LP purchased a new stake in Tenaris S.A. (NYSE:TS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,387,363 shares of the industrial products company's stock, valued at approximately $93,370,000. Tenaris accounts for about 7.3% of Alua Capital Management LP's investment portfolio, making the stock its 5th largest holding. Alua Capital Management LP owned 0.41% of Tenaris at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group grew its holdings in Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company's stock worth $28,000 after acquiring an additional 451 shares during the last quarter. Harbour Investments Inc. bought a new stake in shares of Tenaris during the 1st quarter valued at about $39,000. Farther Finance Advisors LLC boosted its stake in shares of Tenaris by 93.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,660 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 801 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tenaris by 46.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock worth $71,000 after acquiring an additional 600 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its stake in Tenaris by 106.7% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,150 shares of the industrial products company's stock worth $81,000 after acquiring an additional 1,110 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Performance

Shares of TS traded down $0.02 during mid-day trading on Monday, reaching $34.87. The stock had a trading volume of 1,785,945 shares, compared to its average volume of 1,608,913. The firm has a market cap of $20.27 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 2.63 and a beta of 1.39. Tenaris S.A. has a 12 month low of $27.59 and a 12 month high of $40.87. The business has a fifty day moving average of $36.71 and a 200 day moving average of $35.80.

Tenaris (NYSE:TS - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.11. Tenaris had a net margin of 17.02% and a return on equity of 11.71%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. Tenaris's revenue for the quarter was down 7.1% on a year-over-year basis. On average, research analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris declared that its board has approved a share repurchase plan on Tuesday, May 27th that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the industrial products company to buy up to 6.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently commented on TS. Piper Sandler dropped their price objective on shares of Tenaris from $50.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Barclays dropped their price objective on shares of Tenaris from $48.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen cut shares of Tenaris from a "buy" rating to a "hold" rating in a report on Sunday, July 13th. Morgan Stanley decreased their target price on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a report on Friday, May 16th. Finally, Sanford C. Bernstein assumed coverage on shares of Tenaris in a report on Monday, July 21st. They issued an "outperform" rating for the company. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $43.20.

About Tenaris

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.