Cresset Asset Management LLC Sells 23,138 Shares of Tenaris S.A. (NYSE:TS)

Cresset Asset Management LLC reduced its position in shares of Tenaris S.A. (NYSE:TS - Free Report) by 59.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,667 shares of the industrial products company's stock after selling 23,138 shares during the quarter. Cresset Asset Management LLC's holdings in Tenaris were worth $592,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Exencial Wealth Advisors LLC raised its stake in Tenaris by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company's stock valued at $1,905,000 after purchasing an additional 270 shares during the period. Signaturefd LLC raised its stake in Tenaris by 2.3% during the 4th quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company's stock valued at $705,000 after purchasing an additional 418 shares during the period. Covestor Ltd grew its holdings in shares of Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock valued at $65,000 after acquiring an additional 469 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 478 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Tenaris by 6.1% during the 4th quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company's stock valued at $337,000 after acquiring an additional 516 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Price Performance

NYSE:TS traded down $0.40 during trading hours on Friday, reaching $34.09. The company's stock had a trading volume of 1,687,769 shares, compared to its average volume of 1,760,775. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 9.44 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 business's 50-day moving average is $35.08 and its 200-day moving average is $36.81.

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

Tenaris Increases Dividend

The company 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 dividend of $0.56 per share. 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 is 68.29%.

Wall Street Analysts Forecast Growth

TS has been the topic of several research analyst reports. Bank of America cut shares of Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Piper Sandler boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. StockNews.com upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a report on Monday, May 5th. Stifel Nicolaus lowered their price target on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Kepler Capital Markets cut shares of Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.00.

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.