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

Balyasny Asset Management L.P. trimmed its position in Tenaris S.A. (NYSE:TS - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TS. BNP Paribas Financial Markets lifted its stake in Tenaris by 502.4% in the 4th quarter. BNP Paribas Financial Markets now owns 306,146 shares of the industrial products company's stock valued at $11,569,000 after acquiring an additional 255,327 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Tenaris by 4.1% during the fourth quarter. Ameriprise Financial Inc. now owns 22,934 shares of the industrial products company's stock worth $867,000 after purchasing an additional 902 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Tenaris in the 4th quarter valued at $16,486,000. Schonfeld Strategic Advisors LLC bought a new stake in Tenaris during the 4th quarter worth about $1,069,000. Finally, Optiver Holding B.V. lifted its position in Tenaris by 83.0% during the 4th quarter. Optiver Holding B.V. now owns 499,577 shares of the industrial products company's stock worth $18,879,000 after buying an additional 226,514 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America downgraded Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Kepler Capital Markets cut Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. BNP Paribas assumed coverage on Tenaris in a report on Tuesday, April 22nd. They issued an "outperform" rating for the company. Piper Sandler boosted their target price on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Finally, Stifel Nicolaus cut their price target on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $46.50.

Tenaris Stock Up 1.3 %

Shares of TS traded up $0.44 during trading hours on Friday, hitting $34.06. The company had a trading volume of 896,647 shares, compared to its average volume of 1,758,732. The business has a fifty day moving average of $35.32 and a 200-day moving average of $36.72. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of 9.43 and a beta of 1.27. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.14. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The firm had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the prior year, the firm earned $1.27 EPS. The business's revenue was down 15.1% on a year-over-year basis. On average, equities analysts expect that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The company also recently disclosed 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 positive change from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris's dividend payout ratio is currently 34.15%.

About Tenaris

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.