Fearnley Asset Management AS Makes New Investment in Tenaris S.A. $TS

Fearnley Asset Management AS bought a new position in Tenaris S.A. (NYSE:TS) during the 4th quarter, Holdings Channel reports. The fund bought 48,000 shares of the industrial products company’s stock, valued at approximately $1,846,000. Tenaris comprises 0.8% of Fearnley Asset Management AS’s holdings, making the stock its 21st largest position.

A number of other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Tenaris by 14.3% during the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock worth $925,000 after acquiring an additional 2,969 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Tenaris in the first quarter valued at approximately $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Tenaris in the 1st quarter worth approximately $5,458,000. JPMorgan Chase & Co. grew its position 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 during the last quarter. Finally, Rhumbline Advisers grew its position 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 during the last quarter. 10.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TS. TD Cowen reiterated a “buy” rating on shares of Tenaris in a research report on Wednesday, March 18th. Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. The Goldman Sachs Group restated a “neutral” rating and set a $49.70 price objective on shares of Tenaris in a report on Monday, February 23rd. Stifel Nicolaus raised their target price on shares of Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Finally, Barclays upped their target price on shares of Tenaris to $82.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tenaris has an average rating of “Moderate Buy” and a consensus target price of $60.12.

Tenaris Stock Down 0.2%

TS stock opened at $57.13 on Friday. The company’s 50-day moving average price is $61.35 and its two-hundred day moving average price is $52.18. The firm has a market cap of $30.62 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.39 and a beta of 0.82. Tenaris S.A. has a 12 month low of $33.65 and a 12 month high of $64.60.

Tenaris (NYSE:TS) last issued its quarterly 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 company had revenue of $3.10 billion during 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 firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. Equities analysts predict that Tenaris S.A. will post 3.67 EPS for the current year.

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.