ExodusPoint Capital Management LP Purchases New Position in Tenaris S.A. (NYSE:TS)

ExodusPoint Capital Management LP bought a new position in shares of Tenaris S.A. (NYSE:TS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 150,587 shares of the industrial products company's stock, valued at approximately $5,691,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Tenaris by 187.4% during the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company's stock worth $80,943,000 after purchasing an additional 1,660,300 shares during the last quarter. ABC Arbitrage SA acquired a new stake in Tenaris in the 4th quarter valued at about $31,581,000. Assetmark Inc. lifted its position in shares of Tenaris by 0.8% during the fourth quarter. Assetmark Inc. now owns 443,185 shares of the industrial products company's stock worth $16,748,000 after purchasing an additional 3,632 shares in the last quarter. Carrhae Capital LLP bought a new position in Tenaris in the 4th quarter valued at $16,545,000. Finally, Capital Insight Partners LLC increased its stake in shares of Tenaris by 3.8% in the 4th quarter. Capital Insight Partners LLC now owns 116,507 shares of the industrial products company's stock valued at $4,403,000 after buying an additional 4,230 shares during the period. 10.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TS shares. Barclays increased their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Stifel Nicolaus lifted their price target on shares of Tenaris from $40.00 to $43.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. StockNews.com downgraded Tenaris from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Piper Sandler raised their price target on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Finally, Kepler Capital Markets cut Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $46.00.

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Tenaris Stock Down 5.1 %

TS traded down $1.66 during trading hours on Thursday, hitting $30.99. 1,214,722 shares of the company's stock were exchanged, compared to its average volume of 1,781,872. The stock has a market cap of $18.02 billion, a price-to-earnings ratio of 8.58 and a beta of 1.21. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87. The stock's 50-day moving average is $37.58 and its two-hundred day moving average is $36.57.

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 (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, equities research analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be given 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 of this dividend is Tuesday, May 20th. Tenaris's dividend payout ratio is 31.02%.

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.