Interval Partners LP Acquires New Shares in Tenaris S.A. (NYSE:TS)

Interval Partners LP purchased a new position in Tenaris S.A. (NYSE:TS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 163,972 shares of the industrial products company's stock, valued at approximately $6,197,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its stake in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 548 shares in the last quarter. EverSource Wealth Advisors LLC raised 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 buying an additional 478 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Tenaris during the 4th quarter valued at about $42,000. Smartleaf Asset Management LLC raised its holdings in shares of Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock valued at $65,000 after buying an additional 1,284 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock valued at $65,000 after buying an additional 469 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Trading Down 1.2%

TS stock traded down $0.40 during midday trading on Friday, hitting $34.09. 1,687,769 shares of the company's stock were exchanged, compared to its average volume of 1,764,428. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.87. The firm has a 50 day moving average price of $35.08 and a 200-day moving average price of $36.84. The stock has a market capitalization of $19.82 billion, a price-to-earnings ratio of 9.44 and a beta of 1.27.

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 for the quarter, beating analysts' consensus estimates of $0.80 by $0.14. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the business earned $1.27 EPS. The business's quarterly revenue was down 15.1% on a year-over-year basis. On average, sell-side analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal 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 is Tuesday, May 20th. Tenaris's payout ratio is 68.29%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TS shares. BNP Paribas started coverage on Tenaris in a report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Piper Sandler raised their target price on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Barclays set a $48.00 target price on Tenaris and gave the company an "overweight" rating in a report on Tuesday, May 6th. Stifel Nicolaus dropped their price objective on Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley dropped their price objective on Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a report on Friday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $44.00.

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.