Chesapeake Capital Corp IL Makes New Investment in Tenaris S.A. $TS

Chesapeake Capital Corp IL acquired a new position in shares of Tenaris S.A. (NYSE:TS) during the 4th quarter, Holdings Channel reports. The fund acquired 16,287 shares of the industrial products company’s stock, valued at approximately $626,000.

Several other large investors also recently added to or reduced their stakes in the stock. ABC Arbitrage SA boosted its position in shares of Tenaris by 65.9% during the third quarter. ABC Arbitrage SA now owns 775,204 shares of the industrial products company’s stock valued at $27,729,000 after buying an additional 307,936 shares during the period. KLP Kapitalforvaltning AS boosted its position in shares of Tenaris by 183.3% during the third quarter. KLP Kapitalforvaltning AS now owns 85,000 shares of the industrial products company’s stock valued at $3,040,000 after buying an additional 55,000 shares during the period. Optiver Holding B.V. increased its stake in Tenaris by 186.8% in the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock worth $32,384,000 after purchasing an additional 589,625 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of Tenaris by 1,183.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 84,686 shares of the industrial products company’s stock worth $3,029,000 after purchasing an additional 78,090 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of 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 worth $25,240,000 after purchasing an additional 53,553 shares during the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Up 1.5%

Shares of NYSE:TS opened at $59.82 on Friday. Tenaris S.A. has a 52-week low of $32.00 and a 52-week high of $64.33. The stock has a market cap of $32.06 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 2.08 and a beta of 0.85. The business’s 50 day moving average is $57.76 and its 200 day moving average is $47.40.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, May 6th. The industrial products company reported $1.07 earnings per share (EPS) 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 quarter in the prior year, the firm earned $0.94 earnings per share. Tenaris’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Tenaris S.A. will post 3.48 EPS for the current fiscal year.

Tenaris Announces Dividend

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

Analyst Upgrades and Downgrades

TS has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of Tenaris from $40.00 to $50.00 and gave the stock an “underweight” rating in a report on Wednesday, April 15th. TD Cowen restated a “buy” rating on shares of Tenaris in a report on Wednesday, March 18th. Piper Sandler upped their price target on shares of Tenaris from $42.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Weiss Ratings upgraded shares of Tenaris from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, April 24th. Finally, Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Six 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.