Grantham Mayo Van Otterloo & Co. LLC Boosts Stake in Tenaris S.A. $TS

Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Tenaris S.A. (NYSE:TS) by 18.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 253,867 shares of the industrial products company’s stock after purchasing an additional 40,293 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Tenaris were worth $9,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Harbour Investments Inc. purchased a new position in Tenaris in the 1st quarter worth about $39,000. PNC Financial Services Group Inc. grew its stake in shares of Tenaris by 4.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 308 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Tenaris by 12.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 30,219 shares of the industrial products company’s stock valued at $1,182,000 after purchasing an additional 3,273 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Tenaris by 10.6% during the first quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 347 shares during the period. Finally, Corient IA LLC purchased a new stake in Tenaris in the first quarter worth approximately $587,000. 10.45% of the stock is currently owned by institutional investors.

Tenaris Stock Performance

NYSE:TS opened at $40.22 on Friday. The stock has a 50-day simple moving average of $37.64 and a two-hundred day simple moving average of $36.52. Tenaris S.A. has a 52-week low of $30.06 and a 52-week high of $41.76. The firm has a market capitalization of $23.38 billion, a PE ratio of 10.81 and a beta of 1.33.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 11.76% and a net margin of 16.91%.The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.81 EPS. Equities analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Dividend Announcement

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

Analyst Upgrades and Downgrades

TS has been the subject of a number of research reports. Cowen reiterated a “buy” rating on shares of Tenaris in a research note on Thursday, October 30th. BNP Paribas Exane reiterated a “neutral” rating on shares of Tenaris in a research report on Friday, October 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a report on Monday, November 24th. BNP Paribas cut Tenaris from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Stifel Nicolaus upped their price target on shares of Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.60.

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.