Boothbay Fund Management LLC Sells 21,727 Shares of Tenaris S.A. (NYSE:TS)

Boothbay Fund Management LLC lessened its position in Tenaris S.A. (NYSE:TS - Free Report) by 16.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,996 shares of the industrial products company's stock after selling 21,727 shares during the period. Boothbay Fund Management LLC's holdings in Tenaris were worth $4,043,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TS. Versant Capital Management Inc bought a new stake in shares of Tenaris in the fourth quarter worth about $28,000. GAMMA Investing LLC grew its position in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after buying an additional 548 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Tenaris by 78.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock worth $41,000 after buying an additional 478 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Tenaris during the fourth quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Tenaris by 291.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock valued at $65,000 after acquiring an additional 1,284 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TS. Stifel Nicolaus reduced their price objective on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Barclays increased their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Kepler Capital Markets cut Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Piper Sandler increased their target price on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Finally, BNP Paribas began coverage on Tenaris in a research report on Tuesday. They set an "outperform" rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Tenaris has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Tenaris Stock Performance

Shares of NYSE:TS opened at $33.69 on Friday. The business has a 50-day simple moving average of $36.14 and a two-hundred day simple moving average of $36.65. The firm has a market cap of $19.59 billion, a price-to-earnings ratio of 9.33 and a beta of 1.21. 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 issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.31. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. As a group, research analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This is a boost from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio is 31.02%.

About Tenaris

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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