Tenaris S.A. $TS Position Lifted by Creative Planning

Creative Planning grew its stake in shares of Tenaris S.A. (NYSE:TS) by 13.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,837 shares of the industrial products company’s stock after acquiring an additional 4,705 shares during the period. Creative Planning’s holdings in Tenaris were worth $1,527,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TS. Harbour Investments Inc. acquired a new position in Tenaris in the first quarter worth about $39,000. PNC Financial Services Group Inc. lifted its holdings in Tenaris by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,088 shares of the industrial products company’s stock worth $316,000 after buying an additional 308 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Tenaris by 12.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 30,219 shares of the industrial products company’s stock worth $1,182,000 after acquiring an additional 3,273 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Tenaris by 10.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 347 shares during the last quarter. Finally, Corient IA LLC bought a new stake in shares of Tenaris in the 1st quarter valued at approximately $587,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TS. Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Barclays decreased their price target on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Cowen reaffirmed a “buy” rating on shares of Tenaris in a research report on Thursday, October 30th. BNP Paribas lowered shares of Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Piper Sandler downgraded Tenaris from an “overweight” rating to a “neutral” rating and decreased their target price 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 given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.60.

Tenaris Stock Up 0.8%

Shares of NYSE:TS opened at $39.93 on Friday. The company’s 50-day moving average price is $37.53 and its 200 day moving average price is $36.47. The company has a market cap of $23.22 billion, a PE ratio of 10.73 and a beta of 1.33. Tenaris S.A. has a fifty-two week low of $30.06 and a fifty-two week high of $41.76.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Tenaris had a return on equity of 11.76% and a net margin of 16.91%.The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Announces Dividend

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

About Tenaris

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.