Interval Partners LP Takes Position 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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 163,972 shares of the industrial products company's stock, valued at approximately $6,197,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Exencial Wealth Advisors LLC grew its stake 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 raised its holdings in Tenaris by 2.3% during the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company's stock worth $705,000 after buying an additional 418 shares during the last quarter. Covestor Ltd increased its position in shares of Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock worth $65,000 after acquiring an additional 469 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Tenaris by 78.9% in the 4th 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. Finally, Ballentine Partners LLC boosted its stake in Tenaris by 6.1% during 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 last quarter. Institutional investors and hedge funds own 10.45% of the company's stock.

Tenaris Stock Down 0.9%

TS stock traded down $0.31 during midday trading on Thursday, hitting $34.42. The company's stock had a trading volume of 1,461,332 shares, compared to its average volume of 1,759,080. The stock has a market cap of $20.01 billion, a price-to-earnings ratio of 9.53 and a beta of 1.27. The stock's 50-day moving average price is $35.16 and its 200 day moving average price is $36.79. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.14. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.88 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The firm's quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 earnings per share. As a group, equities analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This is a positive change from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio (DPR) is presently 68.29%.

Analysts Set New Price Targets

Several analysts have recently commented on TS shares. BNP Paribas started coverage on Tenaris in a research note on Tuesday, April 22nd. They issued an "outperform" rating for the company. Bank of America cut Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Piper Sandler upped their target price on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. Stifel Nicolaus lowered their target price on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Kepler Capital Markets cut shares of Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.50.

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.