Tenaris S.A. (NYSE:TS) Stake Lowered by Moore Capital Management LP

Moore Capital Management LP reduced its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 447,344 shares of the industrial products company's stock after selling 119,292 shares during the quarter. Moore Capital Management LP owned 0.08% of Tenaris worth $16,905,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TS. Encompass Capital Advisors LLC acquired a new position in shares of Tenaris during the fourth quarter worth about $41,569,000. ABC Arbitrage SA acquired a new stake in shares of Tenaris in the fourth quarter valued at about $31,581,000. Carrhae Capital LLP purchased a new stake in shares of Tenaris during the 4th quarter valued at about $16,545,000. Freestone Grove Partners LP acquired a new position in Tenaris during the 4th quarter worth approximately $16,486,000. Finally, Marshall Wace LLP acquired a new position in Tenaris during the 4th quarter worth approximately $16,177,000. Institutional investors and hedge funds own 10.45% of the company's stock.

Tenaris Trading Down 0.9%

Tenaris stock traded down $0.31 during midday trading on Thursday, hitting $34.42. The stock had a trading volume of 1,461,332 shares, compared to its average volume of 1,760,213. The business has a fifty day moving average price of $35.16 and a 200 day moving average price of $36.79. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87. The stock has a market cap of $20.01 billion, a P/E ratio of 9.53 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, equities analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.56 per share. This is a boost from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris's dividend payout ratio is 68.29%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TS shares. BNP Paribas initiated coverage on shares of Tenaris in a research report on Tuesday, April 22nd. They issued an "outperform" rating for the company. Bank of America downgraded shares of Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Stifel Nicolaus dropped their price target on shares of 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 shares of Tenaris from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Finally, Barclays set a $48.00 target price on Tenaris and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.