Price T Rowe Associates Inc. MD Sells 107,098 Shares of Tenaris S.A. (NYSE:TS)

Price T Rowe Associates Inc. MD decreased its position in Tenaris S.A. (NYSE:TS - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,875,331 shares of the industrial products company's stock after selling 107,098 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.32% of Tenaris worth $70,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TS. ABC Arbitrage SA bought a new stake in Tenaris during the fourth quarter worth approximately $31,581,000. Medina Value Partners LLC boosted its holdings 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 purchasing an additional 145,945 shares during the period. Assetmark Inc. boosted its holdings in shares of Tenaris by 0.8% in the 4th quarter. Assetmark Inc. now owns 443,185 shares of the industrial products company's stock worth $16,748,000 after purchasing an additional 3,632 shares during the period. Carrhae Capital LLP bought a new position in shares of Tenaris during the 4th quarter valued at approximately $16,545,000. Finally, Marshall Wace LLP purchased a new stake in Tenaris during the 4th quarter valued at $16,177,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Performance

Tenaris stock traded up $0.78 during trading hours on Friday, hitting $33.54. The company had a trading volume of 1,635,646 shares, compared to its average volume of 1,753,189. The firm has a market cap of $19.50 billion, a P/E ratio of 9.29 and a beta of 1.21. The company has a 50-day moving average price of $35.68 and a two-hundred day moving average price of $36.74. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.14. The firm had revenue of $2.92 billion during 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 business earned $1.27 earnings per share. As a group, equities research analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.56 per share. This is an increase from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris's dividend payout ratio is presently 34.15%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TS. StockNews.com cut shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Saturday, March 22nd. Stifel Nicolaus cut their price target on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Bank of America lowered shares of Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. BNP Paribas started coverage on Tenaris in a research report on Tuesday, April 22nd. They set an "outperform" rating for the company. Finally, Barclays increased their price target on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Tenaris has an average rating of "Moderate Buy" and a consensus target price of $47.00.

Tenaris 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.