Northern Trust Corp Has $8.34 Million Stock Position in Tenaris S.A. (NYSE:TS)

Northern Trust Corp trimmed its stake in Tenaris S.A. (NYSE:TS - Free Report) by 28.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,689 shares of the industrial products company's stock after selling 88,259 shares during the period. Northern Trust Corp's holdings in Tenaris were worth $8,340,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock worth $41,000 after purchasing an additional 478 shares during the period. Headlands Technologies LLC purchased a new position in Tenaris during the 4th quarter worth $42,000. Smartleaf Asset Management LLC grew its position in Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock worth $65,000 after purchasing an additional 1,284 shares during the last quarter. Covestor Ltd grew its position in Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock worth $65,000 after purchasing an additional 469 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Tenaris by 60.7% during the 4th quarter. Russell Investments Group Ltd. now owns 3,289 shares of the industrial products company's stock worth $124,000 after purchasing an additional 1,242 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Performance

Shares of Tenaris stock traded down $0.42 during trading on Wednesday, reaching $32.90. The company's stock had a trading volume of 959,832 shares, compared to its average volume of 1,763,632. The business's fifty day moving average price is $34.95 and its 200-day moving average price is $36.85. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.87. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 9.11 and a beta of 1.27.

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 analysts' consensus estimates 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 analysts' expectations of $2.88 billion. During the same period last year, the firm posted $1.27 EPS. The business's 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 year.

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be given 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 of this dividend is Tuesday, May 20th. Tenaris's dividend payout ratio (DPR) is currently 68.29%.

Analysts Set New Price Targets

Several research firms have issued reports on TS. StockNews.com upgraded Tenaris from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. 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 report on Tuesday, April 15th. Barclays set a $48.00 price objective on shares of Tenaris and gave the company an "overweight" rating in a research note on Tuesday, May 6th. BNP Paribas started coverage on Tenaris in a research note on Tuesday, April 22nd. They issued an "outperform" rating for the company. Finally, Bank of America cut shares of Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tenaris currently has an average rating of "Hold" and a consensus target price of $44.00.

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.