Tenaris S.A. (NYSE:TS) Shares Sold by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC trimmed its holdings in Tenaris S.A. (NYSE:TS) by 54.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 170,836 shares of the industrial products company’s stock after selling 203,931 shares during the period. Lighthouse Investment Partners LLC’s holdings in Tenaris were worth $6,456,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Interval Partners LP acquired a new position in shares of Tenaris in the 4th quarter valued at approximately $6,197,000. Encompass Capital Advisors LLC acquired a new position in shares of Tenaris in the 4th quarter valued at approximately $41,569,000. Capstone Investment Advisors LLC acquired a new position in shares of Tenaris in the 4th quarter valued at approximately $10,671,000. Caxton Associates LP acquired a new position in shares of Tenaris in the 4th quarter valued at approximately $680,000. Finally, BNP Paribas Financial Markets raised its position in shares of Tenaris by 502.4% in the 4th quarter. BNP Paribas Financial Markets now owns 306,146 shares of the industrial products company’s stock valued at $11,569,000 after purchasing an additional 255,327 shares in the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TS has been the subject of a number of research analyst reports. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Monday, May 5th. Stifel Nicolaus lowered their price target on Tenaris from $43.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Piper Sandler boosted their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Finally, Barclays set a $48.00 price target on Tenaris and gave the company an “overweight” rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

Tenaris Price Performance

Shares of TS opened at $34.71 on Tuesday. The company has a market cap of $20.18 billion, a P/E ratio of 9.61 and a beta of 1.27. The stock has a fifty day moving average price of $35.26 and a 200 day moving average price of $36.81. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87.

Tenaris (NYSE:TS) last issued its quarterly earnings data 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 firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.88 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm’s revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 EPS. As a group, research analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The business also recently disclosed 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 an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s dividend payout ratio is presently 68.29%.

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.