New York State Common Retirement Fund Decreases Holdings in Tenaris S.A. (NYSE:TS)

New York State Common Retirement Fund reduced its position in Tenaris S.A. (NYSE:TS) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,516 shares of the industrial products company’s stock after selling 15,620 shares during the quarter. New York State Common Retirement Fund’s holdings in Tenaris were worth $3,807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TS. Wellington Management Group LLP grew its stake in Tenaris by 101.5% during the 3rd quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock worth $27,723,000 after buying an additional 442,016 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of Tenaris during the third quarter valued at about $2,862,000. Graham Capital Management L.P. acquired a new position in shares of Tenaris during the third quarter valued at about $1,113,000. Pacer Advisors Inc. raised its position 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 valued at $18,284,000 after purchasing an additional 196,331 shares during the last quarter. Finally, Greenleaf Trust acquired a new stake in Tenaris in the 4th quarter worth approximately $210,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Price Performance

Shares of Tenaris stock opened at $33.80 on Monday. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.51. The business has a 50-day moving average of $37.77 and a 200 day moving average of $34.89. Tenaris S.A. has a 12 month low of $24.69 and a 12 month high of $40.72.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.03 by $0.89. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.08 billion. Equities research analysts anticipate that Tenaris S.A. will post 3.91 earnings per share for the current year.

Tenaris Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 21st will be paid a $0.80 dividend. This is an increase from Tenaris’s previous Semi-Annual dividend of $0.68. The ex-dividend date of this dividend is Monday, May 20th. Tenaris’s payout ratio is 13.33%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TS. Morgan Stanley lowered Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a report on Thursday, April 18th. Bank of America began coverage on shares of Tenaris in a research report on Tuesday, January 16th. They set 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.