Wellington Management Group LLP Sells 214,928 Shares of Tenaris S.A. (NYSE:TS)

Wellington Management Group LLP lowered its position in shares of Tenaris S.A. (NYSE:TS - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,331,256 shares of the industrial products company's stock after selling 214,928 shares during the quarter. Wellington Management Group LLP owned 0.40% of Tenaris worth $88,098,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. grew its holdings in Tenaris by 102.5% during the third quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company's stock valued at $33,397,000 after purchasing an additional 531,860 shares during the period. ABC Arbitrage SA acquired a new position in Tenaris during the fourth quarter valued at approximately $31,581,000. Assetmark Inc. grew its holdings in Tenaris by 0.8% during the fourth quarter. Assetmark Inc. now owns 443,185 shares of the industrial products company's stock valued at $16,748,000 after purchasing an additional 3,632 shares during the period. Carrhae Capital LLP acquired a new position in Tenaris during the fourth quarter valued at approximately $16,545,000. Finally, Capital Insight Partners LLC grew its holdings in Tenaris by 3.8% during the fourth quarter. Capital Insight Partners LLC now owns 116,507 shares of the industrial products company's stock valued at $4,403,000 after purchasing an additional 4,230 shares during the period. Institutional investors and hedge funds own 10.45% of the company's stock.

Tenaris Stock Down 3.6 %

Shares of TS stock traded down $1.18 during trading on Thursday, reaching $31.47. The company's stock had a trading volume of 845,132 shares, compared to its average volume of 1,780,509. The business has a fifty day moving average price of $37.58 and a 200-day moving average price of $36.57. The company has a market cap of $18.30 billion, a price-to-earnings ratio of 8.76 and a beta of 1.21. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.87.

Remove Ads

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 (EPS) 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 firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. Research analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

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

Wall Street Analysts Forecast Growth

TS has been the subject of several research analyst reports. Bank of America cut shares of Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. Barclays upped their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Piper Sandler upped their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, February 25th. StockNews.com cut shares of Tenaris from a "buy" rating to a "hold" rating in a report on Saturday, March 22nd. Finally, Kepler Capital Markets cut shares of Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $46.00.

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.