Corigliano Investment Advisers LLC Invests $6.06 Million in Tenaris S.A. $TS

Corigliano Investment Advisers LLC purchased a new position in Tenaris S.A. (NYSE:TS) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 157,700 shares of the industrial products company’s stock, valued at approximately $6,064,000. Tenaris comprises 2.2% of Corigliano Investment Advisers LLC’s portfolio, making the stock its 16th biggest holding.

A number of other hedge funds have also modified their holdings of the stock. BSW Wealth Partners increased its stake in shares of Tenaris by 3.0% in the fourth quarter. BSW Wealth Partners now owns 7,924 shares of the industrial products company’s stock worth $305,000 after acquiring an additional 232 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Tenaris by 2.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,469 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 241 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after acquiring an additional 338 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Tenaris by 2.1% in the third quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock worth $616,000 after acquiring an additional 352 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Tenaris by 26.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 353 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 $59.08 on Thursday. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.46 and a beta of 0.82. Tenaris S.A. has a one year low of $33.65 and a one year high of $64.60. The company’s fifty day moving average price is $61.41 and its two-hundred day moving average price is $52.03.

Tenaris (NYSE:TS) last posted 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 net margin of 16.17% and a return on equity of 11.53%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Tenaris S.A. will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TS. Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Stifel Nicolaus increased their target price on shares of Tenaris from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. TD Cowen reissued a “buy” rating on shares of Tenaris in a research report on Wednesday, March 18th. Weiss Ratings raised shares of Tenaris from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $49.70 target price on shares of Tenaris in a research report on Monday, February 23rd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.