US Bancorp DE Sells 28,159 Shares of Tenaris S.A. (NYSE:TS)

US Bancorp DE trimmed its position in shares of Tenaris S.A. (NYSE:TS - Free Report) by 66.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,059 shares of the industrial products company's stock after selling 28,159 shares during the quarter. US Bancorp DE's holdings in Tenaris were worth $447,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Tenaris by 36.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company's stock worth $45,000 after acquiring an additional 377 shares during the period. Evergreen Capital Management LLC lifted its position in shares of Tenaris by 3.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company's stock worth $608,000 after purchasing an additional 710 shares during the period. Signaturefd LLC boosted its stake in shares of Tenaris by 4.7% in the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company's stock valued at $499,000 after purchasing an additional 732 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Tenaris by 9.3% during the second quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company's stock worth $455,000 after buying an additional 1,271 shares during the period. Finally, Headlands Technologies LLC raised its stake in Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company's stock worth $62,000 after buying an additional 1,486 shares during the last quarter. Institutional investors own 10.45% of the company's stock.

Analyst Upgrades and Downgrades

TS has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Piper Sandler cut their price target on Tenaris from $43.00 to $40.00 and set an "overweight" rating on the stock in a report on Monday, July 15th. Finally, StockNews.com upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.67.

Tenaris Trading Down 2.9 %

NYSE TS traded down $1.08 during mid-day trading on Tuesday, hitting $36.52. The company's stock had a trading volume of 2,634,702 shares, compared to its average volume of 1,980,804. The company's 50 day simple moving average is $31.50 and its 200 day simple moving average is $31.38. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72. The firm has a market capitalization of $21.23 billion, a price-to-earnings ratio of 8.11 and a beta of 1.43.

Tenaris (NYSE:TS - Get Free Report) last posted its earnings results on Wednesday, November 6th. The industrial products company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.18. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.76 billion. Tenaris had a net margin of 20.23% and a return on equity of 15.42%. As a group, research analysts forecast that Tenaris S.A. will post 3.21 EPS for the current year.

Tenaris Cuts Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th will be given a dividend of $0.54 per share. This represents a dividend yield of 3.6%. The ex-dividend date is Tuesday, November 19th. Tenaris's payout ratio is currently 23.53%.

About Tenaris

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.