Legal & General Group Plc Has $9.83 Million Stock Holdings in Tenaris S.A. (NYSE:TS)

Legal & General Group Plc decreased its position in shares of Tenaris S.A. (NYSE:TS - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 260,090 shares of the industrial products company's stock after selling 16,666 shares during the period. Legal & General Group Plc's holdings in Tenaris were worth $9,828,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in shares of Tenaris during the fourth quarter valued at $28,000. GAMMA Investing LLC increased its position in shares of Tenaris by 140.2% in 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings 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 valued at $41,000 after acquiring an additional 478 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Tenaris in the 4th quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC grew its position 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 worth $65,000 after purchasing an additional 1,284 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TS shares. 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 price objective on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Bank of America cut shares of Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. 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. Finally, Stifel Nicolaus decreased their price objective on shares of Tenaris from $43.00 to $41.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Tenaris Stock Performance

Tenaris stock traded down $0.09 during midday trading on Wednesday, reaching $33.10. The stock had a trading volume of 671,280 shares, compared to its average volume of 1,630,228. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87. The firm's fifty day simple moving average is $36.47 and its 200-day simple moving average is $36.62. The stock has a market capitalization of $19.24 billion, a P/E ratio of 9.17 and a beta of 1.21.

Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $2.71 billion. On average, sell-side analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be paid 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 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.