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

Ethic Inc. cut its stake in shares of Tenaris S.A. (NYSE:TS) by 18.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 120,390 shares of the industrial products company’s stock after selling 27,133 shares during the period. Ethic Inc.’s holdings in Tenaris were worth $4,550,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. ABC Arbitrage SA acquired a new position in shares of Tenaris in the fourth quarter worth about $31,581,000. Carrhae Capital LLP acquired a new position in shares of Tenaris in the 4th quarter valued at approximately $16,545,000. Freestone Grove Partners LP acquired a new position in shares of Tenaris in the 4th quarter valued at approximately $16,486,000. Marshall Wace LLP purchased a new position in shares of Tenaris during the 4th quarter valued at approximately $16,177,000. Finally, Yaupon Capital Management LP acquired a new stake in shares of Tenaris during the fourth quarter worth approximately $12,594,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. BNP Paribas initiated coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They set an “outperform” rating on the stock. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Piper Sandler lifted their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Barclays set a $48.00 target price on Tenaris and gave the stock an “overweight” rating in a report on Tuesday. Finally, Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.50.

Tenaris Stock Up 1.3 %

Shares of NYSE TS opened at $34.06 on Friday. The firm’s 50-day moving average price is $35.32 and its two-hundred day moving average price is $36.76. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.87. The stock has a market capitalization of $19.80 billion, a P/E ratio of 9.43 and a beta of 1.27.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.14. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.88 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business’s revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. As a group, equities research analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

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