SIR Capital Management L.P. Cuts Stock Position in Tenaris S.A. (NYSE:TS)

SIR Capital Management L.P. trimmed its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 76.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,277 shares of the industrial products company's stock after selling 1,097,274 shares during the period. Tenaris comprises about 1.3% of SIR Capital Management L.P.'s investment portfolio, making the stock its 29th biggest position. SIR Capital Management L.P. owned about 0.06% of Tenaris worth $12,595,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TS. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Tenaris by 106.7% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,150 shares of the industrial products company's stock worth $81,000 after acquiring an additional 1,110 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Tenaris by 45.2% in the 4th quarter. Quantinno Capital Management LP now owns 46,488 shares of the industrial products company's stock worth $1,757,000 after purchasing an additional 14,473 shares in the last quarter. Merewether Investment Management LP bought a new position in shares of Tenaris during the 4th quarter valued at about $20,271,000. Millennium Management LLC grew its position in shares of Tenaris by 38.2% during the fourth quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company's stock valued at $106,444,000 after purchasing an additional 778,021 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Tenaris by 46.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company's stock valued at $71,000 after purchasing an additional 600 shares in the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Stock Performance

NYSE TS opened at $34.42 on Friday. The company has a market cap of $20.01 billion, a P/E ratio of 9.53 and a beta of 1.27. The business's 50 day moving average price is $35.13 and its 200-day moving average price is $36.80. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last announced its earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.14. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The business's revenue for the quarter was down 15.1% on a year-over-year basis. As a group, equities analysts predict that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be paid 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 currently 68.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TS shares. StockNews.com raised Tenaris from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Barclays set a $48.00 price objective on Tenaris and gave the stock an "overweight" rating in a report on Tuesday, May 6th. BNP Paribas assumed coverage on shares of Tenaris in a report on Tuesday, April 22nd. They issued an "outperform" rating for the company. Piper Sandler upped their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Finally, Kepler Capital Markets lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.50.

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.

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