Tenaris S.A. (NYSE:TS) Holdings Reduced by Fmr LLC

Fmr LLC lessened its holdings in shares of Tenaris S.A. (NYSE:TS) by 22.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,733,580 shares of the industrial products company’s stock after selling 770,064 shares during the period. Fmr LLC owned 0.47% of Tenaris worth $103,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc acquired a new stake in Tenaris in the 4th quarter valued at approximately $28,000. GAMMA Investing LLC grew 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 in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 478 shares during the period. Headlands Technologies LLC bought a new stake in shares of Tenaris during the fourth quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC lifted 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 period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Stock Down 1.1 %

Shares of Tenaris stock opened at $31.97 on Tuesday. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.87. The firm has a market capitalization of $18.59 billion, a PE ratio of 8.86 and a beta of 1.21. The stock’s fifty day moving average is $37.18 and its 200-day moving average is $36.63.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The company 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 $0.56 dividend. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is currently 31.02%.

Wall Street Analyst Weigh In

TS has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Stifel Nicolaus raised their target price on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.00.

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.