Y Intercept Hong Kong Ltd Boosts Stake in Tenaris S.A. $TS

Y Intercept Hong Kong Ltd lifted its stake in Tenaris S.A. (NYSE:TS) by 1,183.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,686 shares of the industrial products company’s stock after buying an additional 78,090 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Tenaris were worth $3,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osaic Holdings Inc. boosted its position in shares of Tenaris by 1,994.8% during the second quarter. Osaic Holdings Inc. now owns 36,722 shares of the industrial products company’s stock worth $1,434,000 after acquiring an additional 34,969 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Tenaris in the 2nd quarter worth $1,122,000. Jump Financial LLC purchased a new stake in Tenaris in the 2nd quarter worth $9,380,000. New York State Common Retirement Fund bought a new stake in shares of Tenaris in the second quarter worth about $1,539,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Tenaris in the second quarter worth about $605,000. 10.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TS. Stifel Nicolaus raised 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. The Goldman Sachs Group assumed coverage on shares of Tenaris in a research report on Monday, December 15th. They issued a “neutral” rating and a $43.60 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. BNP Paribas Exane downgraded shares of Tenaris from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Finally, Piper Sandler restated a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.72.

Tenaris Price Performance

Tenaris stock opened at $44.47 on Tuesday. Tenaris S.A. has a 1-year low of $30.06 and a 1-year high of $45.42. The company’s 50-day moving average is $40.33 and its 200 day moving average is $37.93. The firm has a market capitalization of $25.86 billion, a P/E ratio of 11.96 and a beta of 0.96.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.10. Tenaris had a return on equity of 11.72% and a net margin of 16.91%.The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 25th were given a dividend of $0.58 per share. This represents a dividend yield of 291.0%. The ex-dividend date was Tuesday, November 25th. Tenaris’s dividend payout ratio (DPR) is 31.18%.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value?added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.