SIR Capital Management L.P. Trims Stock Position in Tenaris S.A. (NYSE:TS)

SIR Capital Management L.P. decreased its position in Tenaris S.A. (NYSE:TS) by 76.7% in the fourth quarter, Holdings Channel reports. The firm owned 333,277 shares of the industrial products company’s stock after selling 1,097,274 shares during the period. Tenaris accounts for 1.3% of SIR Capital Management L.P.’s investment portfolio, making the stock its 29th largest holding. SIR Capital Management L.P.’s holdings in Tenaris were worth $12,595,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Yaupon Capital Management LP purchased a new stake in shares of Tenaris in the 4th quarter worth $12,594,000. Invesco Ltd. bought a new position in Tenaris during the 4th quarter worth about $3,141,000. Crossmark Global Holdings Inc. increased its position in Tenaris by 61.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after purchasing an additional 13,374 shares during the period. Proficio Capital Partners LLC purchased a new position in Tenaris during the 4th quarter valued at about $968,000. Finally, ABC Arbitrage SA bought a new stake in shares of Tenaris in the 4th quarter valued at about $31,581,000. Institutional investors own 10.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Stifel Nicolaus lowered their target price on Tenaris from $43.00 to $41.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, Piper Sandler upped their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.50.

Tenaris Stock Down 0.9%

NYSE:TS opened at $34.42 on Friday. The stock has a market capitalization of $20.01 billion, a price-to-earnings ratio of 9.53 and a beta of 1.27. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87. The firm has a 50 day moving average of $35.13 and a 200 day moving average of $36.80.

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

Tenaris Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be given a $0.56 dividend. This is a positive change 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 presently 68.29%.

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.