Fmr LLC Has $103.30 Million Holdings in Tenaris S.A. (NYSE:TS)

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

A number of other hedge funds have also made changes to their positions in the stock. ABC Arbitrage SA purchased a new position in Tenaris in the fourth quarter valued at about $31,581,000. Carrhae Capital LLP acquired a new stake in shares of Tenaris during the 4th quarter valued at about $16,545,000. ExodusPoint Capital Management LP bought a new stake in shares of Tenaris in the 4th quarter valued at approximately $5,691,000. World Investment Advisors LLC acquired a new position in Tenaris in the third quarter worth approximately $2,200,000. Finally, Proficio Capital Partners LLC bought a new position in Tenaris during the fourth quarter valued at approximately $968,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Performance

Shares of NYSE:TS opened at $31.97 on Tuesday. The stock’s 50-day moving average is $37.18 and its 200-day moving average is $36.63. The company has a market cap of $18.59 billion, a P/E ratio of 8.86 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.

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

Tenaris Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors 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 payout ratio is 31.02%.

Analyst Ratings Changes

Several analysts have commented on the stock. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Barclays upped their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Piper Sandler raised their price objective on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Tenaris currently has an average rating of “Hold” and an average target price of $46.00.

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.