Capital Fund Management S.A. Trims Holdings in Tenaris S.A. (NYSE:TS)

Capital Fund Management S.A. cut its stake in Tenaris S.A. (NYSE:TS - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 521,437 shares of the industrial products company's stock after selling 36,485 shares during the quarter. Capital Fund Management S.A. owned about 0.09% of Tenaris worth $19,705,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. bought a new position in shares of Tenaris in the fourth quarter worth $3,141,000. Cerity Partners LLC grew its position in Tenaris by 7.4% during the fourth quarter. Cerity Partners LLC now owns 26,818 shares of the industrial products company's stock worth $956,000 after buying an additional 1,851 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Tenaris by 6.9% in the 4th quarter. Quadrant Capital Group LLC now owns 10,629 shares of the industrial products company's stock worth $402,000 after acquiring an additional 683 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Tenaris by 60.7% in the 4th quarter. Russell Investments Group Ltd. now owns 3,289 shares of the industrial products company's stock valued at $124,000 after acquiring an additional 1,242 shares in the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Tenaris in the 4th quarter valued at about $229,000. Institutional investors own 10.45% of the company's stock.

Tenaris Stock Up 0.3 %

Shares of TS traded up $0.10 during mid-day trading on Tuesday, hitting $32.07. 1,359,544 shares of the company's stock traded hands, compared to its average volume of 1,789,273. The business's 50-day moving average price is $37.18 and its 200-day moving average price is $36.63. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.87. The firm has a market capitalization of $18.64 billion, a P/E ratio of 8.88 and a beta of 1.21.

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Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.63 by $0.31. The business 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%. Sell-side analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be given a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This is a positive change from Tenaris's previous semi-annual dividend of $0.54. Tenaris's dividend payout ratio is currently 31.02%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TS. StockNews.com downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Saturday, March 22nd. Kepler Capital Markets lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Barclays lifted their price target on Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Piper Sandler raised their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. Finally, Bank of America downgraded shares of Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Two investment 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. Based on data from MarketBeat, Tenaris presently has an average rating of "Hold" and a consensus target price of $45.60.

Tenaris Company 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.