OMERS ADMINISTRATION Corp Decreases Holdings in Tenaris S.A. $TS

OMERS ADMINISTRATION Corp decreased its stake in Tenaris S.A. (NYSE:TS) by 85.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,600 shares of the industrial products company’s stock after selling 58,000 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Tenaris were worth $359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TS. New York State Common Retirement Fund purchased a new position in Tenaris in the 2nd quarter valued at about $1,539,000. Virtus Investment Advisers LLC raised its holdings in shares of Tenaris by 16.8% during the second quarter. Virtus Investment Advisers LLC now owns 4,707 shares of the industrial products company’s stock valued at $176,000 after acquiring an additional 676 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Tenaris by 18.9% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 253,867 shares of the industrial products company’s stock valued at $9,495,000 after acquiring an additional 40,293 shares in the last quarter. Kiltearn Partners LLP lifted its position in shares of Tenaris by 85.8% in the second quarter. Kiltearn Partners LLP now owns 319,559 shares of the industrial products company’s stock valued at $11,952,000 after acquiring an additional 147,600 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its stake in shares of Tenaris by 18.8% in the second quarter. Thornburg Investment Management Inc. now owns 25,031 shares of the industrial products company’s stock worth $936,000 after acquiring an additional 3,968 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TS has been the subject of several research reports. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Cowen reaffirmed a “buy” rating on shares of Tenaris in a report on Thursday, October 30th. Stifel Nicolaus raised their price target on shares of Tenaris from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research report on Monday. Finally, Piper Sandler cut shares of Tenaris from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $48.00 to $41.00 in a research note on Wednesday, September 17th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.60.

Tenaris Stock Up 3.3%

Shares of TS opened at $41.11 on Thursday. Tenaris S.A. has a 52-week low of $30.06 and a 52-week high of $41.76. The stock has a fifty day simple moving average of $37.97 and a two-hundred day simple moving average of $36.65. The company has a market capitalization of $23.90 billion, a PE ratio of 11.05 and a beta of 0.95.

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

Tenaris Dividend Announcement

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

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.