O Shaughnessy Asset Management LLC grew its stake in shares of Tenaris S.A. (NYSE:TS - Free Report) by 31.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,644 shares of the industrial products company's stock after purchasing an additional 18,660 shares during the period. O Shaughnessy Asset Management LLC's holdings in Tenaris were worth $2,972,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in TS. Wellington Management Group LLP lifted its stake in shares of Tenaris by 187.4% in the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company's stock valued at $80,943,000 after purchasing an additional 1,660,300 shares during the period. ABC Arbitrage SA purchased a new position in Tenaris in the fourth quarter valued at about $31,581,000. FMR LLC lifted its position in shares of Tenaris by 21.3% during the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company's stock valued at $111,381,000 after acquiring an additional 614,884 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Tenaris by 102.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company's stock worth $33,397,000 after acquiring an additional 531,860 shares in the last quarter. Finally, Carrhae Capital LLP purchased a new stake in Tenaris during the fourth quarter worth $16,545,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
TS has been the topic of several recent research reports. Kepler Capital Markets downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Bank of America downgraded Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Jefferies Financial Group upgraded Tenaris from a "hold" rating to a "buy" rating and upped their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Barclays increased their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Finally, Stifel Nicolaus boosted their target price on shares of Tenaris from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $46.00.
Check Out Our Latest Stock Report on Tenaris
Tenaris Stock Performance
Tenaris stock traded down $0.30 during trading on Tuesday, hitting $31.98. The company's stock had a trading volume of 1,029,617 shares, compared to its average volume of 1,558,764. The stock's fifty day moving average is $38.08 and its 200 day moving average is $36.61. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87. The stock has a market capitalization of $18.59 billion, a price-to-earnings ratio of 8.86 and a beta of 1.21.
Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS 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 during the quarter, compared to the consensus estimate of $2.71 billion. On average, research analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current fiscal year.
Tenaris Increases Dividend
The business also recently disclosed 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. 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 payout ratio is currently 31.02%.
Tenaris Company Profile
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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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