Balyasny Asset Management L.P. Has $63.96 Million Position in Tenaris S.A. (NYSE:TS)

Balyasny Asset Management L.P. decreased its holdings in Tenaris S.A. (NYSE:TS) by 16.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,692,442 shares of the industrial products company’s stock after selling 344,167 shares during the quarter. Balyasny Asset Management L.P. owned 0.29% of Tenaris worth $63,957,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its holdings in Tenaris by 502.4% in the 4th quarter. BNP Paribas Financial Markets now owns 306,146 shares of the industrial products company’s stock worth $11,569,000 after purchasing an additional 255,327 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Tenaris by 4.1% during the 4th quarter. Ameriprise Financial Inc. now owns 22,934 shares of the industrial products company’s stock worth $867,000 after purchasing an additional 902 shares in the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Tenaris in the fourth quarter valued at about $16,486,000. Schonfeld Strategic Advisors LLC bought a new stake in Tenaris during the fourth quarter worth $1,069,000. Finally, Optiver Holding B.V. grew its position in shares of Tenaris by 83.0% during the 4th quarter. Optiver Holding B.V. now owns 499,577 shares of the industrial products company’s stock valued at $18,879,000 after acquiring an additional 226,514 shares during the period. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Up 2.4 %

TS stock opened at $33.54 on Monday. The company has a fifty day simple moving average of $35.68 and a two-hundred day simple moving average of $36.74. The firm has a market capitalization of $19.50 billion, a P/E ratio of 9.29 and a beta of 1.21. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87.

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

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be given 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 is presently 34.15%.

Analyst Ratings Changes

TS has been the subject of a number of recent analyst reports. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Piper Sandler increased their target price 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 downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. Stifel Nicolaus cut their target price on Tenaris from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Barclays upped their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.00.

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.