ExodusPoint Capital Management LP Makes New Investment in Tenaris S.A. (NYSE:TS)

ExodusPoint Capital Management LP acquired a new stake in Tenaris S.A. (NYSE:TS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 150,587 shares of the industrial products company’s stock, valued at approximately $5,691,000.

A number of other institutional investors have also made changes to their positions in the business. Crossmark Global Holdings Inc. increased its stake in Tenaris by 61.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 13,374 shares during the last quarter. GAMMA Investing LLC raised its holdings in Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares in the last quarter. ABC Arbitrage SA acquired a new position in Tenaris during the fourth quarter valued at approximately $31,581,000. Proficio Capital Partners LLC bought a new position in Tenaris in the fourth quarter valued at approximately $968,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 1,284 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Down 7.7 %

Shares of TS stock opened at $33.15 on Friday. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.87. The firm has a 50 day moving average price of $38.22 and a two-hundred day moving average price of $36.54. The company has a market capitalization of $19.27 billion, a PE ratio of 9.18 and a beta of 1.43.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. As a group, research analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be paid 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 dividend payout ratio is 31.02%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TS shares. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Barclays lifted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Piper Sandler lifted their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Finally, Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.00.

Tenaris 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.