Ethic Inc. Sells 27,133 Shares of Tenaris S.A. (NYSE:TS)

Ethic Inc. lessened its stake in Tenaris S.A. (NYSE:TS - Free Report) by 18.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,390 shares of the industrial products company's stock after selling 27,133 shares during the period. Ethic Inc.'s holdings in Tenaris were worth $4,550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exencial Wealth Advisors LLC boosted its position in shares of Tenaris by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company's stock valued at $1,905,000 after purchasing an additional 270 shares in the last quarter. Signaturefd LLC lifted its stake in Tenaris by 2.3% during the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company's stock valued at $705,000 after buying an additional 418 shares in the last quarter. Covestor Ltd lifted its stake in Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company's stock valued at $65,000 after buying an additional 469 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock valued at $41,000 after buying an additional 478 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Tenaris by 6.1% during the fourth quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company's stock valued at $337,000 after buying an additional 516 shares in the last quarter. Institutional investors own 10.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TS. BNP Paribas began coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They set an "outperform" rating for the company. Piper Sandler upped their price objective 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. Stifel Nicolaus reduced their price objective on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Barclays set a $48.00 price objective on shares of Tenaris and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Bank of America lowered shares of Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $44.00.

Tenaris Stock Performance

Shares of TS stock traded down $0.34 during trading on Friday, hitting $34.16. 908,586 shares of the company were exchanged, compared to its average volume of 1,756,964. The firm has a market capitalization of $19.86 billion, a price-to-earnings ratio of 9.46 and a beta of 1.27. The business's 50-day simple moving average is $35.13 and its 200 day simple moving average is $36.80. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.88 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company's revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 earnings per share. On average, equities analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued a $0.56 dividend. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio (DPR) is 68.29%.

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.