Illumine Investment Management LLC Buys New Stake in Tenaris S.A. $TS

Illumine Investment Management LLC acquired a new position in Tenaris S.A. (NYSE:TS) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,603 shares of the industrial products company’s stock, valued at approximately $1,024,000.

Several other large investors have also made changes to their positions in the business. AQR Capital Management LLC raised its position in Tenaris by 14.3% during the first 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 purchased a new position in Tenaris during the first quarter worth about $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in Tenaris in the first quarter valued at approximately $5,458,000. JPMorgan Chase & Co. lifted its stake in shares of Tenaris by 77.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company’s stock valued at $631,000 after purchasing an additional 7,363 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock valued at $314,000 after buying an additional 338 shares during the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Price Performance

Tenaris stock opened at $55.90 on Tuesday. The company has a market cap of $29.96 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.35 and a beta of 0.84. Tenaris S.A. has a 1-year low of $33.65 and a 1-year high of $64.60. The stock’s 50 day moving average price is $59.62 and its 200 day moving average price is $54.03.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, May 7th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.20. The business 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 business’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. On average, equities research analysts anticipate that Tenaris S.A. will post 3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on TS shares. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Morgan Stanley reiterated an “underweight” rating and issued a $53.00 price target on shares of Tenaris in a research note on Thursday, May 14th. Barclays upped their price objective on Tenaris to $82.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Piper Sandler upped their target price on shares of Tenaris from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Finally, TD Cowen reissued a “buy” rating on shares of Tenaris in a research report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.12.

Tenaris Company 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.