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

Federated Hermes Inc. cut its stake in Tenaris S.A. (NYSE:TS) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,477 shares of the industrial products company’s stock after selling 5,732 shares during the period. Federated Hermes Inc.’s holdings in Tenaris were worth $7,942,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TS. Wellington Management Group LLP raised its holdings in shares of Tenaris by 101.5% during the third quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock worth $27,723,000 after purchasing an additional 442,016 shares during the period. Optiver Holding B.V. acquired a new stake in shares of Tenaris during the third quarter worth $2,862,000. Graham Capital Management L.P. acquired a new stake in shares of Tenaris during the third quarter worth $1,113,000. Pacer Advisors Inc. increased its holdings in shares of Tenaris by 59.6% in the 4th quarter. Pacer Advisors Inc. now owns 525,993 shares of the industrial products company’s stock worth $18,284,000 after acquiring an additional 196,331 shares during the period. Finally, Raymond James & Associates increased its holdings in shares of Tenaris by 0.6% in the 4th quarter. Raymond James & Associates now owns 142,121 shares of the industrial products company’s stock worth $4,940,000 after acquiring an additional 911 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Trading Down 1.5 %

NYSE:TS opened at $37.32 on Thursday. Tenaris S.A. has a twelve month low of $24.69 and a twelve month high of $40.72. The company has a 50-day moving average of $37.63 and a 200-day moving average of $34.82. The firm has a market cap of $22.03 billion, a price-to-earnings ratio of 5.62, a price-to-earnings-growth ratio of 2.36 and a beta of 1.47.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.89. Tenaris had a net margin of 26.35% and a return on equity of 24.33%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.08 billion. On average, research analysts forecast that Tenaris S.A. will post 4.06 earnings per share for the current year.

Tenaris Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 21st will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, May 20th. This is a positive change from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s dividend payout ratio is currently 12.05%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Tenaris from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Morgan Stanley lowered shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 target price for the company. in a research report on Thursday, April 18th. Finally, Bank of America began coverage on shares of Tenaris in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company.

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.