Proficio Capital Partners LLC purchased a new position in Tenaris S.A. (NYSE:TS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,622 shares of the industrial products company's stock, valued at approximately $968,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc acquired a new position in Tenaris during the 4th quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tenaris in the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC boosted its stake in Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after purchasing an additional 548 shares in the last quarter. Covestor Ltd purchased a new stake in Tenaris during the 3rd quarter worth approximately $40,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Tenaris during the 3rd quarter valued at approximately $67,000. 10.45% of the stock is owned by hedge funds and other institutional investors.
Tenaris Price Performance
TS stock traded up $1.03 during midday trading on Tuesday, hitting $36.76. 1,743,675 shares of the stock traded hands, compared to its average volume of 1,619,171. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72. The stock's fifty day simple moving average is $38.21 and its 200-day simple moving average is $35.28. The firm has a market cap of $21.37 billion, a P/E ratio of 10.18 and a beta of 1.43.
Tenaris (NYSE:TS - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The company had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. On average, research analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current 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. The ex-dividend date is Tuesday, May 20th. This is a boost from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio (DPR) is currently 31.02%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on TS shares. Jefferies Financial Group raised Tenaris from a "hold" rating to a "buy" rating and upped their target price for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Kepler Capital Markets cut Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. StockNews.com lowered Tenaris from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Bank of America lowered shares of Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Finally, Stifel Nicolaus upped their price objective 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 research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $46.00.
Read Our Latest Stock Analysis on Tenaris
Tenaris Company Profile
(
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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