Corient Private Wealth LLC Has $480,000 Stock Holdings in Tenaris S.A. $TS

Corient Private Wealth LLC decreased its stake in Tenaris S.A. (NYSE:TS) by 54.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,482 shares of the industrial products company’s stock after selling 15,132 shares during the period. Corient Private Wealth LLC’s holdings in Tenaris were worth $480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in Tenaris by 8.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 656,439 shares of the industrial products company’s stock valued at $25,240,000 after purchasing an additional 53,553 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Tenaris by 36.0% in the 3rd quarter. Citigroup Inc. now owns 67,350 shares of the industrial products company’s stock valued at $2,409,000 after purchasing an additional 17,813 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Tenaris by 4.9% in the 4th quarter. Assetmark Inc. now owns 503,917 shares of the industrial products company’s stock valued at $19,376,000 after purchasing an additional 23,702 shares in the last quarter. Centiva Capital LP bought a new position in shares of Tenaris in the 3rd quarter valued at $427,000. Finally, Ethic Inc. increased its stake in shares of Tenaris by 11.6% in the 4th quarter. Ethic Inc. now owns 144,124 shares of the industrial products company’s stock valued at $5,542,000 after purchasing an additional 14,957 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Price Performance

Shares of TS stock opened at $54.13 on Monday. The stock has a market capitalization of $29.01 billion, a PE ratio of 14.32, a PEG ratio of 1.31 and a beta of 0.84. The business’s 50 day simple moving average is $60.62 and its 200 day simple moving average is $53.34. Tenaris S.A. has a one year low of $33.65 and a one year high of $64.60.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. Tenaris had a net margin of 16.17% and a return on equity of 11.53%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the firm posted $0.94 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, research analysts expect that Tenaris S.A. will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

TS has been the subject of several recent analyst reports. Wall Street Zen downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. TD Cowen reissued a “buy” rating on shares of Tenaris in a research note on Wednesday, March 18th. Weiss Ratings raised shares of Tenaris from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 25th. Barclays raised their price target on shares of Tenaris to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, 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. Six equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.12.

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.