Hsbc Holdings PLC Acquires New Shares in Tenaris S.A. (NYSE:TS)

Hsbc Holdings PLC bought a new position in Tenaris S.A. (NYSE:TS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 223,000 shares of the industrial products company's stock, valued at approximately $8,423,000.

Several other hedge funds and other institutional investors have also modified their holdings of TS. Dimensional Fund Advisors LP boosted its position in Tenaris by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 419,081 shares of the industrial products company's stock valued at $15,837,000 after buying an additional 15,790 shares in the last quarter. First Trust Advisors LP acquired a new stake in Tenaris during the 4th quarter valued at $577,000. Freedom Investment Management Inc. bought a new position in Tenaris in the 4th quarter valued at $596,000. Medina Value Partners LLC boosted its stake in Tenaris by 34.7% in the fourth quarter. Medina Value Partners LLC now owns 566,013 shares of the industrial products company's stock worth $21,390,000 after purchasing an additional 145,945 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Tenaris in the fourth quarter worth $16,177,000. Institutional investors own 10.45% of the company's stock.

Tenaris Trading Up 2.4 %

Shares of TS traded up $0.78 on Friday, reaching $33.54. 1,635,646 shares of the company's stock were exchanged, compared to its average volume of 1,753,189. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87. The stock has a market capitalization of $19.50 billion, a P/E ratio of 9.29 and a beta of 1.21. The business has a 50 day moving average price of $35.68 and a two-hundred day moving average price of $36.74.

Tenaris (NYSE:TS - Get Free Report) last issued 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. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the previous year, the company posted $1.27 EPS. The business's revenue for the quarter was down 15.1% compared to the same quarter last year. Equities research analysts predict that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders 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 boost from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio (DPR) is 34.15%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Bank of America cut Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. StockNews.com lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Saturday, March 22nd. Stifel Nicolaus decreased their price target on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler boosted 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. Finally, BNP Paribas initiated coverage on Tenaris in a research report on Tuesday, April 22nd. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $47.00.

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.