Quantinno Capital Management LP Buys 25,271 Shares of Tenaris S.A. $TS

Key Points

• Quantinno Capital Management increased its Tenaris stake by 20.9% in the first quarter, purchasing 25,271 additional shares. Its holdings totaled 146,347 shares valued at approximately $8.5 million.
• Tenaris reported quarterly EPS of $1.07, exceeding estimates of $0.87, while revenue reached $3.10 billion and rose 6.1% year over year.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $62.12, compared with the stock’s reported price of $58.03.

Quantinno Capital Management LP increased its stake in Tenaris S.A. (NYSE:TS - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 146,347 shares of the industrial products company's stock after purchasing an additional 25,271 shares during the quarter. Quantinno Capital Management LP's holdings in Tenaris were worth $8,514,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in Tenaris during the 3rd quarter valued at about $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Tenaris during the fourth quarter valued at approximately $48,000. Raymond James Financial Inc. bought a new stake in Tenaris during the 2nd quarter worth approximately $49,000. Global Retirement Partners LLC increased its holdings in 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 worth $58,000 after acquiring an additional 1,376 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake 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 purchasing an additional 1,543 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company's stock.

Tenaris Price Performance

Shares of TS stock opened at $58.03 on Wednesday. The business has a 50-day moving average of $58.03 and a 200 day moving average of $55.97. Tenaris S.A. has a 1-year low of $33.65 and a 1-year high of $64.60. The stock has a market capitalization of $31.11 billion, a PE ratio of 15.35, a P/E/G ratio of 1.36 and a beta of 0.85.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.20. The business 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 quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. Analysts anticipate that Tenaris S.A. will post 3.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TS. Piper Sandler boosted their price target on shares of Tenaris from $56.00 to $60.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Wall Street Zen upgraded Tenaris from a "hold" rating to a "buy" rating in a research report on Saturday, July 18th. Morgan Stanley raised Tenaris from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $53.00 to $65.00 in a report on Wednesday, July 15th. Weiss Ratings lowered Tenaris from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, July 10th. Finally, Barclays upped their price objective on shares of Tenaris to $82.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. One equities 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.12.

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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