Osaic Holdings Inc. Boosts Position in Tenaris S.A. $TS

Osaic Holdings Inc. grew its position in Tenaris S.A. (NYSE:TS) by 1,994.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,722 shares of the industrial products company’s stock after buying an additional 34,969 shares during the quarter. Osaic Holdings Inc.’s holdings in Tenaris were worth $1,434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in Tenaris in the 2nd quarter valued at about $28,000. Blue Trust Inc. lifted its holdings in shares of Tenaris by 48.8% in the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 357 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Tenaris in the second quarter valued at approximately $49,000. GAMMA Investing LLC increased its stake in shares of Tenaris by 52.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company’s stock worth $61,000 after purchasing an additional 563 shares in the last quarter. Finally, AdvisorNet Financial Inc acquired a new position in shares of Tenaris during the 2nd quarter worth approximately $66,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Wall Street Analyst Weigh In

TS has been the topic of a number of analyst reports. The Goldman Sachs Group began coverage on Tenaris in a report on Monday, December 15th. They set a “neutral” rating and a $43.60 target price on the stock. BNP Paribas downgraded Tenaris from an “outperform” rating to a “hold” rating in a research report on Friday, October 10th. Morgan Stanley set a $36.00 price objective on Tenaris in a research note on Monday, December 15th. Cowen reissued a “buy” rating on shares of Tenaris in a research note on Thursday, October 30th. Finally, Piper Sandler restated a “neutral” rating on shares of Tenaris in a report on Thursday, December 18th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.32.

Tenaris Stock Up 0.9%

TS stock opened at $38.86 on Wednesday. The stock has a market capitalization of $22.59 billion, a price-to-earnings ratio of 10.45 and a beta of 0.95. Tenaris S.A. has a 52-week low of $30.06 and a 52-week high of $41.76. The stock’s fifty day simple moving average is $39.56 and its 200-day simple moving average is $37.37.

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

Tenaris Dividend Announcement

The business also recently disclosed 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. This represents a dividend yield of 291.0%. The ex-dividend date was Tuesday, November 25th. Tenaris’s dividend payout ratio is presently 31.18%.

Tenaris Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value?added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.