Hsbc Holdings PLC Invests $8.42 Million in Tenaris S.A. (NYSE:TS)

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

Several other hedge funds have also bought and sold shares of TS. Versant Capital Management Inc purchased a new stake in shares of Tenaris in the fourth quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in Tenaris by 140.2% during the 4th 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 last quarter. EverSource Wealth Advisors LLC grew 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 worth $41,000 after acquiring an additional 478 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Tenaris in the fourth quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC lifted 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 valued at $65,000 after purchasing an additional 1,284 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company's stock.

Wall Street Analysts Forecast Growth

TS has been the subject of several analyst reports. Barclays increased their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Stifel Nicolaus dropped their price target on Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Bank of America lowered Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a report on Saturday, March 22nd. Finally, Kepler Capital Markets lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Tenaris Stock Down 1.6 %

Shares of NYSE TS traded down $0.54 during mid-day trading on Thursday, reaching $32.75. 3,557,494 shares of the company were exchanged, compared to its average volume of 1,758,856. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87. The company's 50 day moving average price is $35.85 and its 200 day moving average price is $36.65. The stock has a market capitalization of $19.04 billion, a PE ratio of 9.07 and a beta of 1.21.

Tenaris (NYSE:TS - Get Free Report) last issued 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 firm had revenue of $2.92 billion during 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 revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. On average, sell-side analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio (DPR) is 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.