Tenaris S.A. (NYSE:TS) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in Tenaris S.A. (NYSE:TS) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 228,477 shares of the industrial products company’s stock after selling 5,732 shares during the quarter. Federated Hermes Inc.’s holdings in Tenaris were worth $7,942,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TS. Westwood Global Investments LLC increased its stake in Tenaris by 2.8% during the 3rd quarter. Westwood Global Investments LLC now owns 8,825,549 shares of the industrial products company’s stock worth $278,887,000 after buying an additional 243,148 shares during the period. Van ECK Associates Corp increased its position in shares of Tenaris by 6.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,279,660 shares of the industrial products company’s stock valued at $135,238,000 after purchasing an additional 256,547 shares during the last quarter. FMR LLC increased its position in shares of Tenaris by 3.0% in the 3rd quarter. FMR LLC now owns 3,135,820 shares of the industrial products company’s stock valued at $99,092,000 after purchasing an additional 90,940 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Tenaris by 101.5% in the 3rd quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock valued at $27,723,000 after purchasing an additional 442,016 shares during the last quarter. Finally, Pantechnicon Advisors LLP increased its position in shares of Tenaris by 24.7% in the 3rd quarter. Pantechnicon Advisors LLP now owns 605,000 shares of the industrial products company’s stock valued at $19,118,000 after purchasing an additional 120,000 shares during the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on TS. Bank of America began coverage on shares of Tenaris in a research report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Jefferies Financial Group downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Morgan Stanley downgraded shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 target price on the stock. in a research report on Thursday, April 18th.

Tenaris Price Performance

NYSE TS opened at $37.32 on Thursday. The firm’s fifty day moving average price is $37.63 and its 200 day moving average price is $34.82. The company has a market capitalization of $22.03 billion, a price-to-earnings ratio of 5.62, a price-to-earnings-growth ratio of 2.36 and a beta of 1.47. Tenaris S.A. has a 12 month low of $24.69 and a 12 month high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.89. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Tenaris had a net margin of 26.35% and a return on equity of 24.33%. As a group, sell-side analysts forecast that Tenaris S.A. will post 4.06 earnings per share for the current year.

Tenaris Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 21st will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, May 20th. This is a boost from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s dividend payout ratio is currently 12.05%.

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.