Thornburg Investment Management Inc. Invests $796,000 in Tenaris S.A. (NYSE:TS)

Thornburg Investment Management Inc. acquired a new stake in Tenaris S.A. (NYSE:TS - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 21,063 shares of the industrial products company's stock, valued at approximately $796,000.

A number of other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 478 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Tenaris in the 4th quarter valued at about $42,000. Smartleaf Asset Management LLC raised its stake in shares of Tenaris by 291.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock valued at $65,000 after purchasing an additional 1,284 shares during the period. Covestor Ltd raised its stake in shares of Tenaris by 37.2% in the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock valued at $65,000 after purchasing an additional 469 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tenaris by 46.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 600 shares during the period. 10.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TS. StockNews.com raised Tenaris from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Morgan Stanley decreased their price objective on Tenaris from $35.00 to $34.00 and set an "underweight" rating for the company in a report on Friday, May 16th. Barclays set a $48.00 price objective on Tenaris and gave the company an "overweight" rating in a report on Tuesday, May 6th. Bank of America cut Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Finally, Piper Sandler raised their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $44.00.

Tenaris Stock Down 1.2%

Shares of Tenaris stock traded down $0.42 on Wednesday, hitting $32.90. The stock had a trading volume of 959,832 shares, compared to its average volume of 1,763,632. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.87. The business's 50 day moving average is $34.83 and its two-hundred day moving average is $36.82. The stock 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 posted its earnings results on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.80 by $0.14. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.88 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm's revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 earnings per share. As a group, equities analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued a $0.56 dividend. This is an increase from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris's dividend payout ratio is presently 68.29%.

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.