OMERS ADMINISTRATION Corp Decreases Position in Tenaris S.A. (NYSE:TS)

OMERS ADMINISTRATION Corp trimmed its position in Tenaris S.A. (NYSE:TS) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,800 shares of the industrial products company’s stock after selling 1,600 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Tenaris were worth $408,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 478 shares during the last quarter. Headlands Technologies LLC acquired a new position in Tenaris in the 4th quarter valued at $42,000. Smartleaf Asset Management LLC lifted its holdings in Tenaris by 291.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 1,284 shares in the last quarter. Covestor Ltd boosted its stake in Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 469 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tenaris by 46.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,890 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 600 shares during the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TS. BNP Paribas initiated coverage on shares of Tenaris in a research report on Tuesday, April 22nd. They issued an “outperform” rating for the company. Barclays set a $48.00 price objective on shares of Tenaris and gave the company an “overweight” rating in a report on Tuesday, May 6th. Piper Sandler raised their target price on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Finally, Morgan Stanley cut their price target on Tenaris from $35.00 to $34.00 and set an “underweight” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Tenaris presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Tenaris Price Performance

Shares of TS stock opened at $34.08 on Tuesday. The company has a market capitalization of $19.81 billion, a PE ratio of 9.44 and a beta of 1.27. The firm’s 50-day moving average is $35.02 and its two-hundred day moving average is $36.87. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.14. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the firm earned $1.27 EPS. The business’s revenue was down 15.1% compared to the same quarter last year. Sell-side analysts forecast that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.56 per share. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is 68.29%.

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.