Kiltearn Partners LLP Lowers Stock Holdings in Tenaris S.A. (NYSE:TS)

Kiltearn Partners LLP lessened its stake in shares of Tenaris S.A. (NYSE:TS) by 43.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 292,559 shares of the industrial products company’s stock after selling 221,800 shares during the period. Tenaris comprises approximately 1.8% of Kiltearn Partners LLP’s investment portfolio, making the stock its 22nd biggest holding. Kiltearn Partners LLP’s holdings in Tenaris were worth $11,056,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tenaris by 48.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 23,132 shares of the industrial products company’s stock worth $735,000 after buying an additional 7,533 shares during the period. Cerity Partners LLC grew its holdings in Tenaris by 28.3% during the 3rd quarter. Cerity Partners LLC now owns 24,967 shares of the industrial products company’s stock worth $794,000 after acquiring an additional 5,502 shares in the last quarter. FMR LLC raised its holdings in shares of Tenaris by 21.3% in the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after purchasing an additional 614,884 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Tenaris in the 3rd quarter worth approximately $1,894,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tenaris during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TS. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and raised their price target for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Barclays upped their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Piper Sandler increased their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, March 22nd. Two research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.00.

Tenaris Price Performance

Shares of NYSE TS opened at $39.64 on Friday. The business has a 50-day moving average of $38.34 and a two-hundred day moving average of $36.10. The company has a market capitalization of $23.05 billion, a price-to-earnings ratio of 10.98 and a beta of 1.43. 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 quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. 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. Investors 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 of this dividend is Tuesday, May 20th. Tenaris’s dividend payout ratio is currently 31.02%.

Tenaris 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.