Balyasny Asset Management L.P. Sells 344,167 Shares of Tenaris S.A. (NYSE:TS)

Balyasny Asset Management L.P. cut its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 16.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,692,442 shares of the industrial products company's stock after selling 344,167 shares during the period. Balyasny Asset Management L.P. owned approximately 0.29% of Tenaris worth $63,957,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Versant Capital Management Inc acquired a new position in shares of Tenaris during the 4th quarter worth approximately $28,000. GAMMA Investing LLC grew its position in Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after buying an additional 548 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock worth $41,000 after buying an additional 478 shares in the last quarter. Headlands Technologies LLC bought a new position in Tenaris during the 4th quarter worth $42,000. Finally, Smartleaf Asset Management LLC raised its holdings in Tenaris by 291.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock valued at $65,000 after acquiring an additional 1,284 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Kepler Capital Markets cut Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Stifel Nicolaus reduced their price objective on Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. BNP Paribas initiated coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They issued an "outperform" rating for the company. Barclays set a $48.00 target price on Tenaris and gave the stock an "overweight" rating in a report on Tuesday. Finally, Bank of America lowered shares of Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.50.

Tenaris Price Performance

NYSE TS traded up $0.44 during mid-day trading on Friday, reaching $34.06. 896,647 shares of the stock were exchanged, compared to its average volume of 1,760,825. The stock has a market cap of $19.80 billion, a P/E ratio of 9.43 and a beta of 1.27. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.87. The stock has a 50 day simple moving average of $35.32 and a 200-day simple moving average of $36.76.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.14. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period last year, the company posted $1.27 EPS. The business's quarterly revenue was down 15.1% on a year-over-year basis. Sell-side analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be issued a $0.56 dividend. This is a boost from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris's dividend payout ratio (DPR) is presently 34.15%.

Tenaris Company Profile

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products and related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, line pipes, cold-drawn pipes, and premium joints and couplings; and coiled tubing products for oil and gas drilling and workovers, and subsea pipelines.