Assetmark Inc. Has $28.55 Million Stake in Tenaris S.A. $TS

Assetmark Inc. reduced its stake in shares of Tenaris S.A. (NYSE:TS) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 490,777 shares of the industrial products company’s stock after selling 13,140 shares during the quarter. Assetmark Inc. owned about 0.09% of Tenaris worth $28,553,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TS. Allspring Global Investments Holdings LLC bought a new position in Tenaris in the first quarter valued at about $280,000. Bank of New York Mellon Corp raised its stake in shares of Tenaris by 5.1% during the first quarter. Bank of New York Mellon Corp now owns 13,100 shares of the industrial products company’s stock worth $762,000 after buying an additional 630 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Tenaris in the first quarter valued at approximately $1,026,000. Illumine Investment Management LLC acquired a new position in Tenaris in the first quarter valued at approximately $1,024,000. Finally, Larry Mathis Financial Planning LLC acquired a new position in Tenaris in the first quarter valued at approximately $208,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Price Performance

NYSE:TS opened at $57.16 on Friday. Tenaris S.A. has a fifty-two week low of $33.65 and a fifty-two week high of $64.60. The stock has a market capitalization of $30.64 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. The business’s 50-day simple moving average is $59.25 and its 200-day simple moving average is $54.43.

Tenaris (NYSE:TS) last posted its earnings results on Thursday, May 7th. The industrial products company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.20. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Tenaris had a return on equity of 11.53% and a net margin of 16.17%.Tenaris’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.94 EPS. On average, research analysts expect that Tenaris S.A. will post 3.66 earnings per share for the current year.

Analyst Ratings Changes

TS has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings cut Tenaris from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Piper Sandler boosted their target price on Tenaris from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, May 18th. Barclays upped their price target on Tenaris to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Tenaris from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tenaris presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.12.

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.