Merewether Investment Management LP acquired a new position in shares of Tenaris S.A. (NYSE:TS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 536,413 shares of the industrial products company's stock, valued at approximately $20,271,000. Merewether Investment Management LP owned 0.09% of Tenaris at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TS. GAMMA Investing LLC lifted its holdings in shares of Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock valued at $35,000 after buying an additional 548 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 last quarter. Headlands Technologies LLC acquired a new stake in shares of Tenaris during the 4th quarter valued at about $42,000. Smartleaf Asset Management LLC lifted 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 last quarter. Finally, Covestor Ltd lifted 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 last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.
Tenaris Price Performance
Shares of TS traded down $0.40 on Friday, reaching $34.09. 1,687,769 shares of the stock traded hands, compared to its average volume of 1,764,428. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of 9.44 and a beta of 1.27. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87. The stock's 50-day moving average price is $35.08 and its 200-day moving average price is $36.84.
Tenaris (NYSE:TS - Get Free Report) last announced its quarterly 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. The business had revenue of $2.92 billion for 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%. Tenaris's quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.27 EPS. As a group, equities research 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. Investors of record on Tuesday, May 20th will be paid a $0.56 dividend. This is a positive change from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris's payout ratio is currently 68.29%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on TS shares. Barclays set a $48.00 price objective on Tenaris and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Stifel Nicolaus cut their price objective on Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. StockNews.com raised Tenaris from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Bank of America downgraded Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Finally, Piper Sandler raised their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Tenaris currently has an average rating of "Hold" and an average price target of $44.00.
Read Our Latest Report on TS
About Tenaris
(
Free Report)
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.
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