Css LLC Il Boosts Stock Position in Tenaris S.A. (NYSE:TS)

Css LLC Il lifted its holdings in shares of Tenaris S.A. (NYSE:TS) by 33.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,680 shares of the industrial products company’s stock after purchasing an additional 9,680 shares during the period. Css LLC Il’s holdings in Tenaris were worth $1,462,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

TS has been the topic of several analyst reports. Morgan Stanley decreased their price target on Tenaris from $35.00 to $34.00 and set an “underweight” rating on the stock in a research report on Friday, May 16th. Barclays set a $48.00 price target on shares of Tenaris and gave the company an “overweight” rating in a research report on Tuesday, May 6th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. BNP Paribas started coverage on Tenaris in a research note on Tuesday, April 22nd. They issued an “outperform” rating on the stock. Finally, Stifel Nicolaus cut their price objective on Tenaris from $43.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.00.

Tenaris Price Performance

Shares of TS opened at $33.30 on Wednesday. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.87. The stock has a 50 day simple moving average of $34.95 and a two-hundred day simple moving average of $36.85. The firm has a market cap of $19.36 billion, a P/E ratio of 9.22 and a beta of 1.27.

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, beating analysts’ consensus estimates of $0.80 by $0.14. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The firm’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, equities analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a $0.56 dividend. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s payout ratio is currently 68.29%.

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.