Kiltearn Partners LLP Lowers Holdings in Tenaris S.A. (NYSE:TS)

Kiltearn Partners LLP cut its holdings in Tenaris S.A. (NYSE:TS - Free Report) by 43.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,559 shares of the industrial products company's stock after selling 221,800 shares during the quarter. Tenaris accounts for approximately 1.8% of Kiltearn Partners LLP's holdings, making the stock its 22nd largest position. Kiltearn Partners LLP owned approximately 0.05% of Tenaris worth $11,056,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TS. Versant Capital Management Inc purchased a new stake in shares of Tenaris during the 4th quarter valued at about $28,000. GAMMA Investing LLC lifted its position in Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 548 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tenaris in the third quarter worth approximately $33,000. EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 478 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock valued at $65,000 after buying an additional 1,284 shares during the last quarter. 10.45% of the stock is owned by institutional investors.

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Tenaris Price Performance

Shares of TS stock traded up $0.32 during trading hours on Tuesday, reaching $39.43. 278,459 shares of the company traded hands, compared to its average volume of 1,476,937. The firm has a 50-day moving average price of $38.36 and a 200 day moving average price of $36.36. The company has a market cap of $22.92 billion, a P/E ratio of 10.91 and a beta of 1.43. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.31. The company had revenue of $2.85 billion for 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%. Sell-side analysts predict that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued a $0.56 dividend. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio is currently 31.02%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TS. Jefferies Financial Group raised Tenaris from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. StockNews.com cut shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Piper Sandler raised their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Finally, Stifel Nicolaus upped their target price on shares of Tenaris from $40.00 to $43.00 and gave the company a "buy" rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Tenaris has a consensus rating of "Hold" and a consensus price target of $46.00.

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.