Franklin Resources Inc. Decreases Stake in Tenaris S.A. (NYSE:TS)

Franklin Resources Inc. lowered its position in Tenaris S.A. (NYSE:TS - Free Report) by 65.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,298 shares of the industrial products company's stock after selling 133,436 shares during the period. Franklin Resources Inc.'s holdings in Tenaris were worth $2,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc bought a new stake in Tenaris during the 4th quarter valued at about $28,000. GAMMA Investing LLC increased its position in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after acquiring an additional 548 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Tenaris by 78.9% during the fourth 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. Smartleaf Asset Management LLC boosted its holdings in shares of Tenaris by 291.2% in the fourth 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. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Tenaris in the third quarter valued at approximately $67,000. Institutional investors own 10.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TS shares. Kepler Capital Markets lowered Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Barclays lifted their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Bank of America cut shares of Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Piper Sandler raised their target price on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, February 25th. Finally, Stifel Nicolaus lowered 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $45.60.

Tenaris Price Performance

Tenaris stock traded up $0.57 during trading hours on Friday, reaching $33.26. The stock had a trading volume of 1,365,203 shares, compared to its average volume of 1,789,570. The company has a market cap of $19.34 billion, a price-to-earnings ratio of 9.21 and a beta of 1.21. The business's 50 day moving average price is $36.82 and its 200-day moving average price is $36.58. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.63 by $0.31. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. On average, sell-side analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.56 per share. 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%.

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.