Freestone Grove Partners LP Purchases Shares of 436,254 Tenaris S.A. (NYSE:TS)

Freestone Grove Partners LP purchased a new stake in shares of Tenaris S.A. (NYSE:TS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 436,254 shares of the industrial products company's stock, valued at approximately $16,486,000. Freestone Grove Partners LP owned approximately 0.08% of Tenaris at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TS. Exencial Wealth Advisors LLC grew its position in Tenaris by 0.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company's stock valued at $1,905,000 after acquiring an additional 270 shares during the period. Signaturefd LLC increased its position in shares of Tenaris by 2.3% in the 4th quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company's stock valued at $705,000 after buying an additional 418 shares in the last quarter. Covestor Ltd grew its stake in Tenaris by 37.2% in the fourth 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 during the period. EverSource Wealth Advisors LLC lifted 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 purchasing an additional 478 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in shares of Tenaris by 6.1% in the 4th quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company's stock valued at $337,000 after purchasing an additional 516 shares during the period. Institutional investors own 10.45% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TS shares. Barclays set a $48.00 price target on shares of Tenaris and gave the company an "overweight" rating in a research note on Tuesday. Stifel Nicolaus lowered their target price 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. Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Piper Sandler increased their target price 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. Finally, StockNews.com upgraded Tenaris from a "hold" rating to a "buy" rating in a research note on Monday. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.50.

Tenaris Price Performance

Shares of Tenaris stock traded down $0.05 during midday trading on Wednesday, reaching $33.39. The company had a trading volume of 562,468 shares, compared to its average volume of 1,752,908. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.87. The stock has a fifty day moving average price of $35.52 and a 200 day moving average price of $36.73. The firm has a market cap of $19.41 billion, a PE ratio of 9.25 and a beta of 1.27.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.14. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.88 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The company's quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 earnings per share. As a group, sell-side analysts forecast 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 issued a $0.56 dividend. This is an increase 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 is presently 34.15%.

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.