Bank of Montreal Can Decreases Holdings in Tenaris S.A. (NYSE:TS)

Bank of Montreal Can trimmed its stake in Tenaris S.A. (NYSE:TS - Free Report) by 89.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,304 shares of the industrial products company's stock after selling 46,666 shares during the period. Bank of Montreal Can's holdings in Tenaris were worth $200,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Barclays PLC boosted its stake in shares of Tenaris by 30,000.0% in the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company's stock valued at $192,000 after purchasing an additional 6,000 shares during the last quarter. World Investment Advisors LLC bought a new stake in Tenaris during the third quarter valued at $2,200,000. Wilmington Savings Fund Society FSB acquired a new stake in Tenaris during the 3rd quarter worth about $67,000. Versant Capital Management Inc acquired a new stake in Tenaris during the 4th quarter worth about $28,000. Finally, GAMMA Investing LLC raised its position in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after acquiring an additional 548 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Price Performance

Shares of NYSE TS traded down $0.80 during mid-day trading on Wednesday, reaching $32.94. 1,105,380 shares of the company's stock traded hands, compared to its average volume of 1,642,447. The business has a 50-day simple moving average of $35.94 and a 200 day simple moving average of $36.67. The stock has a market cap of $19.15 billion, a P/E ratio of 9.12 and a beta of 1.21. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a $0.56 dividend. The ex-dividend date is Tuesday, May 20th. This is a positive change from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio is currently 31.02%.

Analyst Ratings Changes

Several research firms recently commented on TS. Piper Sandler raised their target price on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. Barclays lifted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. StockNews.com lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Stifel Nicolaus decreased 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. Finally, Bank of America cut shares of Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Tenaris currently has an average rating of "Moderate Buy" and a consensus price target of $47.00.

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.