Illumine Investment Management LLC Makes New $1.02 Million Investment in Tenaris S.A. $TS

Illumine Investment Management LLC bought a new position in Tenaris S.A. (NYSE:TS) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 17,603 shares of the industrial products company’s stock, valued at approximately $1,024,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sourcerock Group LLC increased its holdings in shares of Tenaris by 25.9% during 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 during the last quarter. Wellington Management Group LLP raised its stake in shares of Tenaris by 25.6% during the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock valued at $103,128,000 after purchasing an additional 546,144 shares during the period. Van ECK Associates Corp increased its stake in Tenaris by 25.4% during the 4th quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock worth $77,638,000 after buying an additional 408,592 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Tenaris by 3.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock worth $66,120,000 after acquiring an additional 53,155 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Tenaris by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,234,828 shares of the industrial products company’s stock valued at $47,481,000 after purchasing an additional 100,568 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Price Performance

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

Tenaris (NYSE:TS) last issued its earnings results on Thursday, May 7th. The industrial products company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.87 by $0.20. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm posted $0.94 earnings per share. Tenaris’s revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that Tenaris S.A. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TS shares. Barclays upped their target price on shares of Tenaris to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. TD Cowen reiterated a “buy” rating on shares of Tenaris in a research note on Wednesday, March 18th. Piper Sandler boosted their price objective on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Weiss Ratings lowered Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.