Boothbay Fund Management LLC Sells 21,727 Shares of Tenaris S.A. (NYSE:TS)

Boothbay Fund Management LLC decreased its holdings in shares of Tenaris S.A. (NYSE:TS) by 16.9% in the fourth quarter, HoldingsChannel reports. The fund owned 106,996 shares of the industrial products company’s stock after selling 21,727 shares during the quarter. Boothbay Fund Management LLC’s holdings in Tenaris were worth $4,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. ABC Arbitrage SA bought a new stake in Tenaris during the fourth quarter valued at about $31,581,000. Medina Value Partners LLC grew its stake in shares of Tenaris by 34.7% during the 4th quarter. Medina Value Partners LLC now owns 566,013 shares of the industrial products company’s stock valued at $21,390,000 after acquiring an additional 145,945 shares during the period. Assetmark Inc. grew its stake in shares of Tenaris by 0.8% during the 4th quarter. Assetmark Inc. now owns 443,185 shares of the industrial products company’s stock valued at $16,748,000 after acquiring an additional 3,632 shares during the period. Carrhae Capital LLP purchased a new stake in Tenaris in the 4th quarter worth approximately $16,545,000. Finally, Marshall Wace LLP bought a new stake in Tenaris during the 4th quarter worth approximately $16,177,000. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Performance

Shares of NYSE TS opened at $33.69 on Friday. The company has a market cap of $19.59 billion, a P/E ratio of 9.33 and a beta of 1.21. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.87. The firm’s fifty day moving average is $36.14 and its two-hundred day moving average is $36.65.

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

Tenaris Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.56 per share. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio is 31.02%.

Analyst Ratings Changes

A number of research firms have weighed in on TS. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Barclays upped their target price on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Stifel Nicolaus dropped their price objective on Tenaris from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler lifted their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Tenaris has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Tenaris Company 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.