JPMorgan Chase & Co. Has $909,000 Stock Holdings in Tenaris S.A. (NYSE:TS)

JPMorgan Chase & Co. cut its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 66.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,067 shares of the industrial products company's stock after selling 48,063 shares during the quarter. JPMorgan Chase & Co.'s holdings in Tenaris were worth $909,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exencial Wealth Advisors LLC grew its stake in shares of Tenaris by 0.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company's stock worth $1,905,000 after buying an additional 270 shares during the last quarter. Signaturefd LLC raised its holdings in 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 during the last quarter. EverSource Wealth Advisors LLC boosted its position in Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock worth $41,000 after buying an additional 478 shares during the period. Ballentine Partners LLC grew its holdings in Tenaris by 6.1% during the 4th quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company's stock worth $337,000 after acquiring an additional 516 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in 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 acquiring an additional 548 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on TS shares. BNP Paribas assumed coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They issued an "outperform" rating on the stock. Barclays upped their price target on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Bank of America downgraded Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Kepler Capital Markets cut Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Finally, StockNews.com lowered shares of Tenaris from a "buy" rating to a "hold" rating in a report on Saturday, March 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.00.

Tenaris Stock Performance

Shares of TS stock traded down $0.54 during trading hours on Thursday, hitting $32.75. 3,557,494 shares of the company were exchanged, compared to its average volume of 1,761,247. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.87. The company has a 50 day simple moving average of $35.85 and a two-hundred day simple moving average of $36.65. The firm has a market cap of $19.04 billion, a P/E ratio of 9.07 and a beta of 1.21.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share 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 firm 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 firm posted $1.27 earnings per share. The business's revenue was down 15.1% compared to the same quarter last year. As a group, sell-side analysts expect 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. Shareholders of record on Tuesday, May 20th will be issued a $0.56 dividend. 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 is presently 31.02%.

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.