Quantbot Technologies LP Buys 47,417 Shares of Tenaris S.A. $TS

Quantbot Technologies LP boosted its stake in Tenaris S.A. (NYSE:TS) by 166.3% during the third quarter, HoldingsChannel reports. The firm owned 75,933 shares of the industrial products company’s stock after buying an additional 47,417 shares during the period. Quantbot Technologies LP’s holdings in Tenaris were worth $2,716,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TS. Sourcerock Group LLC grew its stake in Tenaris by 25.9% in the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after buying an additional 635,817 shares in the last quarter. Optiver Holding B.V. raised its position in shares of Tenaris by 186.8% during the 3rd quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock valued at $32,384,000 after buying an additional 589,625 shares in the last quarter. ABC Arbitrage SA lifted its holdings in shares of Tenaris by 252.6% during the 2nd quarter. ABC Arbitrage SA now owns 467,268 shares of the industrial products company’s stock worth $17,476,000 after acquiring an additional 334,755 shares during the last quarter. Jump Financial LLC purchased a new position in Tenaris in the second quarter worth $9,380,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Tenaris in the second quarter worth $9,102,000. 10.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TS shares. Piper Sandler restated a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. TD Cowen upped their target price on Tenaris from $48.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Stifel Nicolaus lifted their price target on shares of Tenaris from $45.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. Five investment 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.45.

Tenaris Price Performance

Shares of TS stock opened at $52.96 on Wednesday. The business has a 50-day moving average of $45.17 and a 200 day moving average of $40.23. Tenaris S.A. has a 1-year low of $30.06 and a 1-year high of $55.02. The stock has a market capitalization of $30.79 billion, a PE ratio of 14.51, a P/E/G ratio of 1.94 and a beta of 0.87.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The business’s quarterly revenue was up 5.3% 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 3.14 EPS for the current year.

Tenaris Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, May 20th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.20 per share. This represents a yield of 450.0%. The ex-dividend date is Tuesday, May 19th. Tenaris’s dividend payout ratio is currently 31.78%.

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.