Grantham Mayo Van Otterloo & Co. LLC lowered its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 31.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 425,017 shares of the industrial products company's stock after selling 190,713 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.07% of Tenaris worth $16,061,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of TS. Atlas Capital Advisors Inc. purchased a new position in shares of Tenaris during the fourth quarter worth approximately $229,000. ExodusPoint Capital Management LP bought a new position in Tenaris in the fourth quarter worth approximately $5,691,000. Headlands Technologies LLC purchased a new position in Tenaris during the 4th quarter worth $42,000. O Shaughnessy Asset Management LLC raised its position in Tenaris by 31.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 78,644 shares of the industrial products company's stock valued at $2,972,000 after purchasing an additional 18,660 shares in the last quarter. Finally, Carrhae Capital LLP purchased a new stake in shares of Tenaris in the 4th quarter worth $16,545,000. Institutional investors own 10.45% of the company's stock.
Tenaris Trading Up 2.5 %
Shares of TS stock traded up $0.76 during mid-day trading on Friday, reaching $31.74. The stock had a trading volume of 1,492,176 shares, compared to its average volume of 1,787,127. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 8.78 and a beta of 1.21. The business's fifty day moving average is $37.44 and its 200-day moving average is $36.57.
Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate of $2.71 billion. On average, analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current year.
Tenaris Increases Dividend
The firm 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 dividend of $0.56 per share. 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 31.02%.
Analyst Upgrades and Downgrades
TS has been the topic of several research reports. StockNews.com lowered Tenaris from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Kepler Capital Markets downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Stifel Nicolaus boosted their price objective on shares of Tenaris from $40.00 to $43.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Piper Sandler increased their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, February 25th. Finally, Barclays lifted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Two investment 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's stock. According to data from MarketBeat.com, Tenaris presently has an average rating of "Hold" and an average target price of $46.00.
Get Our Latest Stock Analysis on TS
About Tenaris
(
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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