Ashton Thomas Private Wealth LLC Invests $868,000 in Tenaris S.A. (NYSE:TS)

Ashton Thomas Private Wealth LLC bought a new stake in shares of Tenaris S.A. (NYSE:TS - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 22,968 shares of the industrial products company's stock, valued at approximately $868,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Tenaris by 187.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company's stock worth $80,943,000 after acquiring an additional 1,660,300 shares during the last quarter. ABC Arbitrage SA bought a new stake in shares of Tenaris in the 4th quarter valued at $31,581,000. Holocene Advisors LP acquired a new stake in Tenaris during the 3rd quarter worth $21,454,000. FMR LLC lifted its holdings in Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company's stock worth $111,381,000 after acquiring an additional 614,884 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Tenaris by 102.5% in the third quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company's stock valued at $33,397,000 after acquiring an additional 531,860 shares during the period. Institutional investors own 10.45% of the company's stock.

Tenaris Stock Performance

TS traded down $0.15 on Thursday, hitting $36.96. 856,094 shares of the company were exchanged, compared to its average volume of 1,592,950. The stock's fifty day moving average is $38.17 and its 200-day moving average is $35.35. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.72. The company has a market cap of $21.49 billion, a PE ratio of 10.24 and a beta of 1.43.

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Tenaris (NYSE:TS - Get Free Report) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share 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 net margin of 16.26% and a return on equity of 11.76%. As a group, equities research analysts expect that Tenaris S.A. will post 3.14 EPS 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. Stockholders of record on Tuesday, May 20th will be issued a $0.56 dividend. This is a boost 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 31.02%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Tenaris from $40.00 to $43.00 and gave the company a "buy" rating in a report on Friday, February 21st. Jefferies Financial Group raised shares of Tenaris from a "hold" rating to a "buy" rating and lifted their price target for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Barclays increased 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 Monday, February 24th. Bank of America cut Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Finally, Piper Sandler upped their price objective on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Tenaris has an average rating of "Hold" and an average price target of $46.00.

Tenaris Company 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.