Kiltearn Partners LLP Decreases Stock Position in Tenaris S.A. (NYSE:TS)

Kiltearn Partners LLP trimmed its stake in shares of Tenaris S.A. (NYSE:TS) by 43.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,559 shares of the industrial products company’s stock after selling 221,800 shares during the quarter. Tenaris makes up 1.8% of Kiltearn Partners LLP’s investment portfolio, making the stock its 22nd largest position. Kiltearn Partners LLP owned approximately 0.05% of Tenaris worth $11,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc purchased a new position in shares of Tenaris during the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tenaris during the third quarter valued at approximately $33,000. GAMMA Investing LLC raised its stake in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 548 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 478 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in Tenaris by 291.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock worth $65,000 after purchasing an additional 1,284 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TS. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus lifted their price target on shares of Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Finally, Piper Sandler lifted their price objective on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tenaris currently has an average rating of “Hold” and an average target price of $46.00.

Tenaris Stock Down 1.4 %

Shares of TS stock opened at $39.64 on Friday. The company’s fifty day simple moving average is $38.34 and its two-hundred day simple moving average is $36.10. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87. The stock has a market cap of $23.05 billion, a P/E ratio of 10.98 and a beta of 1.43.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued 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 is Tuesday, May 20th. Tenaris’s dividend payout ratio is presently 31.02%.

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.