Van ECK Associates Corp Lowers Stock Holdings in Tenaris S.A. (NYSE:TS)

Van ECK Associates Corp decreased its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,273,569 shares of the industrial products company's stock after selling 1,006,091 shares during the quarter. Van ECK Associates Corp owned about 0.55% of Tenaris worth $113,790,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TS. Greenleaf Trust bought a new stake in shares of Tenaris in the fourth quarter valued at about $210,000. Ballentine Partners LLC grew its holdings in shares of Tenaris by 8.0% during the 4th quarter. Ballentine Partners LLC now owns 8,089 shares of the industrial products company's stock worth $281,000 after purchasing an additional 600 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Tenaris by 19.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,946 shares of the industrial products company's stock valued at $314,000 after purchasing an additional 1,643 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tenaris in the third quarter valued at $333,000. Finally, Advisor Partners II LLC lifted its position in Tenaris by 25.6% in the third quarter. Advisor Partners II LLC now owns 10,662 shares of the industrial products company's stock worth $337,000 after purchasing an additional 2,171 shares during the period. Institutional investors and hedge funds own 10.45% of the company's stock.

Tenaris Trading Down 3.2 %

Shares of TS traded down $1.09 on Tuesday, reaching $32.99. 2,064,046 shares of the company's stock were exchanged, compared to its average volume of 2,083,063. The business has a 50 day moving average price of $37.82 and a two-hundred day moving average price of $34.89. Tenaris S.A. has a 12 month low of $24.69 and a 12 month high of $40.72. The stock has a market capitalization of $19.47 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of 2.16 and a beta of 1.47.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.89. Tenaris had a return on equity of 21.50% and a net margin of 24.89%. The business had revenue of $3.41 billion during the quarter, compared to analysts' expectations of $3.08 billion. Equities research analysts predict that Tenaris S.A. will post 4.06 EPS for the current year.

Tenaris Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 21st will be issued a $0.80 dividend. This is a positive change from Tenaris's previous Semi-Annual dividend of $0.68. The ex-dividend date of this dividend is Monday, May 20th. Tenaris's payout ratio is 13.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TS shares. Bank of America started coverage on Tenaris in a research note on Tuesday, January 16th. They issued a "neutral" rating on the stock. Morgan Stanley lowered Tenaris from an "overweight" rating to an "underweight" rating and set a $40.00 price objective for the company. in a research note on Thursday, April 18th. Finally, Jefferies Financial Group downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Thursday, January 4th.

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.