Greenleaf Trust Purchases New Shares in Tenaris S.A. (NYSE:TS)

Greenleaf Trust acquired a new stake in shares of Tenaris S.A. (NYSE:TS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,031 shares of the industrial products company’s stock, valued at approximately $210,000.

A number of other institutional investors also recently added to or reduced their stakes in TS. Ballentine Partners LLC raised its stake in Tenaris by 8.0% in the fourth quarter. Ballentine Partners LLC now owns 8,089 shares of the industrial products company’s stock valued at $281,000 after buying an additional 600 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Tenaris by 19.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,946 shares of the industrial products company’s stock valued at $314,000 after buying an additional 1,643 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tenaris in the third quarter valued at about $333,000. Advisor Partners II LLC raised its stake in Tenaris by 25.6% in the third quarter. Advisor Partners II LLC now owns 10,662 shares of the industrial products company’s stock valued at $337,000 after buying an additional 2,171 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Tenaris in the third quarter valued at about $392,000. Institutional investors own 10.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Jefferies Financial Group cut Tenaris from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Bank of America initiated coverage on Tenaris in a research note on Tuesday, January 16th. They issued a “neutral” rating for the company. Finally, Morgan Stanley cut Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective for the company. in a research note on Thursday, April 18th.

Tenaris Stock Up 0.2 %

Shares of NYSE:TS opened at $37.38 on Friday. Tenaris S.A. has a 52-week low of $24.69 and a 52-week high of $40.72. The stock has a market cap of $22.06 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 2.32 and a beta of 1.47. The business has a 50-day moving average price of $37.73 and a 200-day moving average price of $34.84.

Tenaris (NYSE:TS) last announced its quarterly earnings results 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 return on equity of 24.33% and a net margin of 26.35%. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.08 billion. As a group, equities analysts anticipate that Tenaris S.A. will post 4.06 EPS for the current fiscal year.

Tenaris Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 21st will be issued a $0.80 dividend. The ex-dividend date is Monday, May 20th. This is an increase from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s payout ratio is presently 12.05%.

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.