Point72 Asset Management L.P. reduced its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 80.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 207,961 shares of the industrial products company's stock after selling 842,591 shares during the quarter. Point72 Asset Management L.P.'s holdings in Tenaris were worth $7,859,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its position in Tenaris by 78.9% in 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 during the period. Headlands Technologies LLC acquired a new position in Tenaris in the 4th quarter valued at approximately $42,000. Smartleaf Asset Management LLC increased its position in shares of Tenaris by 291.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock worth $65,000 after buying an additional 1,284 shares during the period. Covestor Ltd increased its position in shares of Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock worth $65,000 after buying an additional 469 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tenaris by 46.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock worth $71,000 after buying an additional 600 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on TS. Piper Sandler increased their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Stifel Nicolaus decreased their price objective 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. Morgan Stanley decreased their price objective on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. Finally, BNP Paribas began coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $44.00.
Get Our Latest Report on Tenaris
Tenaris Trading Down 1.2%
NYSE TS traded down $0.42 on Wednesday, hitting $32.90. 959,832 shares of the company were exchanged, compared to its average volume of 1,763,632. The company has a market cap of $19.12 billion, a PE ratio of 9.11 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. The stock has a fifty day moving average of $34.83 and a 200-day moving average of $36.82.
Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings data 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 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 analyst estimates of $2.88 billion. During the same period last year, the firm earned $1.27 earnings per share. The business's quarterly revenue was down 15.1% compared to the same quarter last year. On average, analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current year.
Tenaris Increases Dividend
The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be paid 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 (DPR) is 68.29%.
About Tenaris
(
Free Report)
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.
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