Point72 Asset Management L.P. Sells 842,591 Shares of Tenaris S.A. (NYSE:TS)

Point72 Asset Management L.P. decreased its position in shares of Tenaris S.A. (NYSE:TS) by 80.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 207,961 shares of the industrial products company’s stock after selling 842,591 shares during the quarter. Point72 Asset Management L.P.’s holdings in Tenaris were worth $7,859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Tenaris by 78.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after buying an additional 478 shares during the last quarter. Headlands Technologies LLC bought a new position in Tenaris during the fourth quarter valued at approximately $42,000. Smartleaf Asset Management LLC lifted its position in 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 during the period. Covestor Ltd boosted its holdings in Tenaris by 37.2% in the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 469 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tenaris by 46.5% in 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 during the period. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Down 1.2%

TS stock opened at $34.09 on Monday. The business’s 50-day moving average price is $35.08 and its 200-day moving average price is $36.87. The stock has a market cap of $19.82 billion, a P/E ratio of 9.44 and a beta of 1.27. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.87.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.14. The company had revenue of $2.92 billion for 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 EPS. On average, equities research analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be paid a dividend of $0.56 per share. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s payout ratio is 68.29%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TS shares. BNP Paribas began coverage on Tenaris in a report on Tuesday, April 22nd. They set an “outperform” rating on the stock. Morgan Stanley lowered their target price on Tenaris from $35.00 to $34.00 and set an “underweight” rating on the stock in a report on Friday. Barclays set a $48.00 price target on Tenaris and gave the company an “overweight” rating in a research note on Tuesday, May 6th. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus dropped their price objective on shares of Tenaris from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $44.00.

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.