AGF Management Ltd. lowered its position in Tenaris S.A. (NYSE:TS - Free Report) by 31.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 246,497 shares of the industrial products company's stock after selling 113,739 shares during the period. AGF Management Ltd.'s holdings in Tenaris were worth $8,568,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Greenleaf Trust purchased a new position in Tenaris during the fourth quarter valued at $210,000. West Family Investments Inc. bought a new position in shares of Tenaris during the fourth quarter valued at approximately $218,000. Ballentine Partners LLC increased its stake in shares of Tenaris by 8.0% during the fourth quarter. Ballentine Partners LLC now owns 8,089 shares of the industrial products company's stock valued at $281,000 after purchasing an additional 600 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Tenaris in the 3rd quarter worth approximately $333,000. Institutional investors own 10.45% of the company's stock.
Tenaris Trading Down 1.4 %
NYSE TS traded down $0.47 during trading hours on Friday, hitting $34.12. 1,237,550 shares of the company's stock traded hands, compared to its average volume of 2,160,372. Tenaris S.A. has a 52 week low of $24.69 and a 52 week high of $40.72. The firm has a market capitalization of $20.14 billion, a P/E ratio of 5.69, a P/E/G ratio of 2.62 and a beta of 1.51. The business's fifty day moving average price is $37.61 and its two-hundred day moving average price is $34.93.
Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.89. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.08 billion. On average, sell-side analysts expect that Tenaris S.A. will post 3.89 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 22nd. Stockholders of record on Tuesday, May 21st will be given a dividend of $0.80 per share. This is a boost from Tenaris's previous Semi-Annual dividend of $0.68. The ex-dividend date of this dividend is Monday, May 20th. Tenaris's dividend payout ratio is currently 13.33%.
Analyst Upgrades and Downgrades
Several research firms have commented on TS. Morgan Stanley downgraded Tenaris from an "overweight" rating to an "underweight" rating and set a $40.00 target price on the stock. in a report on Thursday, April 18th. Bank of America started coverage on shares of Tenaris in a research report on Tuesday, January 16th. They set a "neutral" rating for the company. Finally, Piper Sandler cut their target price on shares of Tenaris from $49.00 to $43.00 and set an "overweight" rating for the company in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Tenaris presently has an average rating of "Hold" and an average target price of $41.60.
Read Our Latest Analysis on Tenaris
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.
Further Reading
Before you consider Tenaris, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tenaris wasn't on the list.
While Tenaris currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
