Proficio Capital Partners LLC Invests $968,000 in Tenaris S.A. (NYSE:TS)

Proficio Capital Partners LLC purchased a new stake in Tenaris S.A. (NYSE:TS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 25,622 shares of the industrial products company's stock, valued at approximately $968,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc acquired a new stake in Tenaris in the 4th quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris in the third quarter valued at approximately $33,000. GAMMA Investing LLC lifted its position in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock valued at $35,000 after buying an additional 548 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock worth $65,000 after acquiring an additional 1,284 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Tenaris during the 3rd quarter worth approximately $67,000. Institutional investors own 10.45% of the company's stock.

Wall Street Analysts Forecast Growth

TS has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. StockNews.com downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a report on Saturday. Kepler Capital Markets lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Jefferies Financial Group upgraded shares of Tenaris from a "hold" rating to a "buy" rating and raised their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Finally, Bank of America cut Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.00.

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Tenaris Price Performance

Tenaris stock traded up $0.59 during midday trading on Tuesday, hitting $40.22. The company's stock had a trading volume of 647,392 shares, compared to its average volume of 1,738,179. The company has a 50-day moving average price of $38.29 and a two-hundred day moving average price of $35.97. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.73. The company has a market cap of $23.38 billion, a price-to-earnings ratio of 11.14 and a beta of 1.43.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. The business had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. Sell-side analysts forecast that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.56 per share. This is a positive change from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris's dividend payout ratio is 31.02%.

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.