Assetmark Inc. Boosts Position in Tenaris S.A. $TS

Key Points

• Assetmark Inc. increased its stake in Tenaris by 4.9% in Q4 to 503,917 shares (0.09% ownership) after buying 23,702 shares, valued at about $19.38 million.
• The consensus analyst view is a "Hold" with a $54.62 target; analysts are mixed (5 Buys, 4 Holds, 1 Sell) and recent target revisions range roughly from the low $40s up to $56.
• Tenaris beat quarterly estimates with $0.87 EPS vs. $0.76 expected and $3.0B in revenue (up 5.3% y/y), and announced a $1.20 dividend payable May 20 (record date May 19).

Assetmark Inc. increased its stake in Tenaris S.A. (NYSE:TS - Free Report) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 503,917 shares of the industrial products company's stock after buying an additional 23,702 shares during the period. Assetmark Inc. owned 0.09% of Tenaris worth $19,376,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TS. AQR Capital Management LLC increased its stake in Tenaris by 14.3% in the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company's stock worth $925,000 after buying an additional 2,969 shares during the period. Integrated Wealth Concepts LLC bought a new position in Tenaris during the 1st quarter worth about $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in Tenaris during the 1st quarter worth about $5,458,000. JPMorgan Chase & Co. grew its holdings in Tenaris by 77.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company's stock worth $631,000 after acquiring an additional 7,363 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Tenaris by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company's stock worth $314,000 after acquiring an additional 338 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TS. The Goldman Sachs Group reiterated a "neutral" rating and set a $49.70 target price on shares of Tenaris in a report on Monday, February 23rd. Wall Street Zen upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Piper Sandler increased their target price on shares of Tenaris from $42.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday. Morgan Stanley increased their target price on shares of Tenaris from $40.00 to $50.00 and gave the stock an "underweight" rating in a report on Wednesday. Finally, Oddo Bhf upgraded shares of Tenaris to an "outperform" rating in a report on Thursday, February 5th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Tenaris has a consensus rating of "Hold" and a consensus target price of $54.62.

Tenaris Stock Performance

NYSE:TS opened at $57.95 on Thursday. Tenaris S.A. has a fifty-two week low of $31.76 and a fifty-two week high of $60.64. The stock has a market capitalization of $31.06 billion, a P/E ratio of 15.88, a P/E/G ratio of 2.07 and a beta of 0.81. The company's 50-day simple moving average is $54.35 and its 200-day simple moving average is $44.74.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Sunday, February 15th. The industrial products company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The business had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period last year, the business earned $0.94 EPS. The company's revenue was up 5.3% compared to the same quarter last year. On average, research analysts forecast that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, May 20th. Investors of record on Tuesday, May 19th will be paid a $1.20 dividend. The ex-dividend date is Tuesday, May 19th. This represents a yield of 450.0%. Tenaris's dividend payout ratio (DPR) is 31.78%.

About Tenaris

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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