Tenaris S.A. (NYSE:TS) Position Lifted by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 38.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,816,728 shares of the industrial products company's stock after purchasing an additional 778,021 shares during the quarter. Millennium Management LLC owned approximately 0.48% of Tenaris worth $106,444,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TS. Encompass Capital Advisors LLC purchased a new position in Tenaris during the fourth quarter worth approximately $41,569,000. ABC Arbitrage SA purchased a new position in shares of Tenaris in the 4th quarter worth $31,581,000. Medina Value Partners LLC raised its position in shares of Tenaris by 34.7% in the 4th quarter. Medina Value Partners LLC now owns 566,013 shares of the industrial products company's stock worth $21,390,000 after buying an additional 145,945 shares during the period. Optiver Holding B.V. boosted its holdings in Tenaris by 83.0% in the fourth quarter. Optiver Holding B.V. now owns 499,577 shares of the industrial products company's stock valued at $18,879,000 after acquiring an additional 226,514 shares during the last quarter. Finally, Assetmark Inc. grew its position in Tenaris by 0.8% during the fourth quarter. Assetmark Inc. now owns 443,185 shares of the industrial products company's stock valued at $16,748,000 after acquiring an additional 3,632 shares during the period. Institutional investors and hedge funds own 10.45% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TS. StockNews.com raised Tenaris from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Morgan Stanley reduced their price target on shares of Tenaris from $35.00 to $34.00 and set an "underweight" rating on the stock in a research report on Friday. Stifel Nicolaus dropped their price objective on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Bank of America lowered shares of Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Finally, Barclays set a $48.00 price target on Tenaris and gave the company an "overweight" rating in a report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $44.00.

Tenaris Stock Down 1.2%

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

Tenaris (NYSE:TS - Get Free Report) last released 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 for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. As a group, sell-side analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The firm 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 boost 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%.

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.