Chesapeake Capital Corp IL Buys New Shares in Tenaris S.A. $TS

Chesapeake Capital Corp IL bought a new stake in shares of Tenaris S.A. (NYSE:TS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,287 shares of the industrial products company’s stock, valued at approximately $626,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Tenaris during the second quarter valued at $49,000. Advisory Services Network LLC purchased a new position in shares of Tenaris in the third quarter valued at about $47,000. Farther Finance Advisors LLC lifted its position in shares of Tenaris by 100.6% in the third quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 725 shares in the last quarter. CWM LLC lifted its position in shares of Tenaris by 57.7% in the third quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 571 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Tenaris by 38.5% in the third quarter. Versant Capital Management Inc now owns 4,205 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 1,168 shares in the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Price Performance

Shares of NYSE TS opened at $59.82 on Friday. The business’s 50 day moving average is $57.76 and its two-hundred day moving average is $47.40. Tenaris S.A. has a 1-year low of $32.00 and a 1-year high of $64.33. The stock has a market capitalization of $32.06 billion, a P/E ratio of 15.82, a PEG ratio of 2.08 and a beta of 0.85.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.20. Tenaris had a return on equity of 11.60% and a net margin of 16.17%.The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that Tenaris S.A. will post 3.48 earnings per share for the current fiscal year.

Tenaris Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.20 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Tenaris’s payout ratio is presently 31.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wall Street Zen downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Piper Sandler boosted their price objective on Tenaris from $42.00 to $56.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded Tenaris from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Morgan Stanley boosted their price objective on Tenaris from $40.00 to $50.00 and gave the company an “underweight” rating in a research report on Wednesday, April 15th. Finally, Oddo Bhf upgraded Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Six investment 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. Based on data from MarketBeat, Tenaris presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.95.

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.