Renaissance Technologies LLC Sells 300,200 Shares of Tenaris S.A. (NYSE:TS)

Renaissance Technologies LLC trimmed its stake in Tenaris S.A. (NYSE:TS - Free Report) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,518,944 shares of the industrial products company's stock after selling 300,200 shares during the quarter. Renaissance Technologies LLC owned about 0.43% of Tenaris worth $95,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Tenaris by 48.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 23,132 shares of the industrial products company's stock worth $735,000 after purchasing an additional 7,533 shares during the period. Quantinno Capital Management LP increased its stake in Tenaris by 22.7% during the 3rd quarter. Quantinno Capital Management LP now owns 32,015 shares of the industrial products company's stock valued at $1,018,000 after purchasing an additional 5,927 shares in the last quarter. Wellington Management Group LLP raised its holdings in 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 buying an additional 1,660,300 shares during the last quarter. Barclays PLC lifted its stake in shares of Tenaris by 30,000.0% in the third quarter. Barclays PLC now owns 6,020 shares of the industrial products company's stock valued at $192,000 after buying an additional 6,000 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Tenaris during the third quarter valued at about $2,200,000. 10.45% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

TS has been the topic of a number of analyst reports. StockNews.com lowered shares of Tenaris from a "buy" rating to a "hold" rating in a report on Saturday, March 22nd. Piper Sandler increased their price objective on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. Kepler Capital Markets cut Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Barclays upped their price target on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Finally, Stifel Nicolaus raised their price objective on Tenaris from $40.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Tenaris presently has a consensus rating of "Hold" and an average target price of $46.00.

Tenaris Stock Down 0.9 %

TS stock traded down $0.28 during midday trading on Monday, hitting $32.06. The company's stock had a trading volume of 704,538 shares, compared to its average volume of 1,651,162. The stock has a market cap of $18.64 billion, a price-to-earnings ratio of 8.88 and a beta of 1.21. The stock's 50-day moving average price is $37.32 and its 200 day moving average price is $36.62. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.87.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.31. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. As a group, equities analysts forecast 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 issued 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 payout ratio is 31.02%.

Tenaris 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.