Tenaris S.A. $TS Shares Acquired by Kiltearn Partners LLP

Kiltearn Partners LLP boosted its holdings in Tenaris S.A. (NYSE:TS) by 85.8% during the second quarter, HoldingsChannel.com reports. The fund owned 319,559 shares of the industrial products company’s stock after acquiring an additional 147,600 shares during the period. Tenaris accounts for about 2.4% of Kiltearn Partners LLP’s portfolio, making the stock its 17th biggest position. Kiltearn Partners LLP’s holdings in Tenaris were worth $11,952,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Alua Capital Management LP acquired a new stake in shares of Tenaris during the 1st quarter worth approximately $93,370,000. Encompass Capital Advisors LLC increased its position in Tenaris by 90.7% in the first quarter. Encompass Capital Advisors LLC now owns 2,097,540 shares of the industrial products company’s stock worth $82,035,000 after buying an additional 997,540 shares during the period. Assetmark Inc. increased its position in Tenaris by 4.3% in the second quarter. Assetmark Inc. now owns 469,229 shares of the industrial products company’s stock worth $17,549,000 after buying an additional 19,391 shares during the period. ABC Arbitrage SA lifted its stake in Tenaris by 252.6% in the second quarter. ABC Arbitrage SA now owns 467,268 shares of the industrial products company’s stock valued at $17,476,000 after buying an additional 334,755 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Tenaris by 109.6% during the first quarter. Northern Trust Corp now owns 462,542 shares of the industrial products company’s stock valued at $18,090,000 after acquiring an additional 241,853 shares during the period. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Performance

TS opened at $39.93 on Thursday. The company has a market capitalization of $23.22 billion, a PE ratio of 10.73 and a beta of 1.33. The stock’s fifty day moving average is $37.43 and its 200-day moving average is $36.45. Tenaris S.A. has a one year low of $30.06 and a one year high of $41.76.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.75 by $0.10. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Tenaris had a net margin of 16.91% and a return on equity of 11.76%. Tenaris’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. On average, equities research analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 25th were issued a dividend of $0.58 per share. This represents a yield of 291.0%. The ex-dividend date was Tuesday, November 25th. Tenaris’s payout ratio is presently 31.18%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BNP Paribas lowered shares of Tenaris from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. Stifel Nicolaus lifted their price target on Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Piper Sandler lowered Tenaris from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $48.00 to $41.00 in a research report on Wednesday, September 17th. BNP Paribas Exane reissued a “neutral” rating on shares of Tenaris in a report on Friday, October 10th. Finally, Barclays cut their price objective on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.60.

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.