Carrhae Capital LLP purchased a new position in shares of Tenaris S.A. (NYSE:TS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 437,806 shares of the industrial products company's stock, valued at approximately $16,545,000. Tenaris accounts for about 1.4% of Carrhae Capital LLP's investment portfolio, making the stock its 17th largest holding. Carrhae Capital LLP owned about 0.08% of Tenaris as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in Tenaris during the 4th quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tenaris in the third quarter worth $33,000. GAMMA Investing LLC increased its position in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after acquiring an additional 548 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock worth $41,000 after acquiring an additional 478 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of Tenaris by 291.2% in 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. 10.45% of the stock is currently owned by hedge funds and other institutional investors.
Tenaris Price Performance
Shares of TS traded down $0.61 during midday trading on Friday, reaching $39.07. 1,107,073 shares of the stock were exchanged, compared to its average volume of 1,751,731. The company has a market capitalization of $22.71 billion, a price-to-earnings ratio of 10.82 and a beta of 1.43. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.87. The business's 50-day moving average price is $38.35 and its 200 day moving average price is $36.23.
Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. As a group, equities research analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current fiscal 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 an increase 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 31.02%.
Analysts Set New Price Targets
Several brokerages have weighed in on TS. Stifel Nicolaus upped their price target on Tenaris from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Jefferies Financial Group upgraded shares of Tenaris from a "hold" rating to a "buy" rating and lifted their price target for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Piper Sandler raised their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. StockNews.com downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Finally, Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Two investment 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 MarketBeat, Tenaris has an average rating of "Hold" and an average price target of $46.00.
Read Our Latest Research Report on TS
About Tenaris
(
Free Report)
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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