Tenaris S.A. (NYSE:TS) Position Reduced by LPL Financial LLC

LPL Financial LLC reduced its position in Tenaris S.A. (NYSE:TS) by 15.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,040 shares of the industrial products company’s stock after selling 4,004 shares during the period. LPL Financial LLC’s holdings in Tenaris were worth $833,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TS. ABC Arbitrage SA purchased a new stake in shares of Tenaris in the fourth quarter worth approximately $31,581,000. World Investment Advisors LLC acquired a new position in Tenaris in the 3rd quarter valued at approximately $2,200,000. Proficio Capital Partners LLC purchased a new stake in Tenaris in the 4th quarter worth approximately $968,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Tenaris during the 4th quarter valued at $868,000. Finally, J2 Capital Management Inc acquired a new position in shares of Tenaris in the fourth quarter worth $513,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TS. Piper Sandler lifted their price objective on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Barclays boosted their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus reduced their price objective on shares of Tenaris from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tenaris currently has a consensus rating of “Hold” and a consensus price target of $47.00.

Tenaris Trading Down 1.8 %

Shares of Tenaris stock opened at $32.66 on Tuesday. The firm has a fifty day simple moving average of $36.58 and a 200-day simple moving average of $36.64. The stock has a market capitalization of $18.99 billion, a price-to-earnings ratio of 9.05 and a beta of 1.21. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87.

Tenaris (NYSE:TS) last released its quarterly 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 company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. As a group, research analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be issued a $0.56 dividend. 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 dividend payout ratio (DPR) is 31.02%.

About Tenaris

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.