Legal & General Group Plc Sells 16,666 Shares of Tenaris S.A. (NYSE:TS)

Legal & General Group Plc decreased its holdings in shares of Tenaris S.A. (NYSE:TS) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,090 shares of the industrial products company’s stock after selling 16,666 shares during the period. Legal & General Group Plc’s holdings in Tenaris were worth $9,828,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. increased its position in shares of Tenaris by 61.5% during the fourth 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 period. GAMMA Investing LLC grew its holdings in shares of Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the period. ABC Arbitrage SA bought a new position in shares of Tenaris in the 4th quarter worth approximately $31,581,000. Proficio Capital Partners LLC purchased a new position in shares of Tenaris in the 4th quarter valued at approximately $968,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Tenaris by 291.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 1,284 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of NYSE TS opened at $33.26 on Friday. The firm’s 50 day moving average price is $36.82 and its 200-day moving average price is $36.58. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.87. The company has a market cap of $19.34 billion, a PE ratio of 9.21 and a beta of 1.21.

Tenaris (NYSE:TS) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. On average, analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued a $0.56 dividend. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is presently 31.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TS shares. Stifel Nicolaus decreased their price objective on Tenaris from $43.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday. Bank of America cut shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Piper Sandler 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 Tuesday, February 25th. Barclays raised their target price on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Tenaris presently has a consensus rating of “Hold” and a consensus target price of $45.60.

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.