1,100,000 Shares in Tenaris S.A. (NYSE:TS) Acquired by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC bought a new position in Tenaris S.A. (NYSE:TS) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,100,000 shares of the industrial products company’s stock, valued at approximately $41,569,000. Tenaris accounts for 1.6% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 25th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares during the period. EverSource Wealth Advisors LLC raised 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 worth $41,000 after acquiring an additional 478 shares during the period. Headlands Technologies LLC acquired a new position in Tenaris in the 4th quarter worth $42,000. Smartleaf Asset Management LLC boosted its stake in Tenaris by 291.2% in the 4th 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. Finally, Covestor Ltd raised its stake in shares of Tenaris by 37.2% in the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 469 shares during the period. 10.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TS. Piper Sandler upped their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Monday. Barclays set a $48.00 target price on shares of Tenaris and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus lowered their price target on shares of Tenaris from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, BNP Paribas began coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.50.

Tenaris Trading Up 1.9 %

NYSE TS opened at $33.60 on Friday. The firm has a market capitalization of $19.53 billion, a P/E ratio of 9.31 and a beta of 1.27. The firm’s fifty day moving average price is $35.36 and its two-hundred day moving average price is $36.71. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.87.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.14. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the firm earned $1.27 EPS. Tenaris’s quarterly revenue was down 15.1% compared to the same quarter last year. On average, research analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders 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 of this dividend is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is currently 34.15%.

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.