JPMorgan Chase & Co. Has $909,000 Stake in Tenaris S.A. (NYSE:TS)

JPMorgan Chase & Co. reduced its holdings in Tenaris S.A. (NYSE:TS) by 66.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 24,067 shares of the industrial products company’s stock after selling 48,063 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tenaris were worth $909,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Versant Capital Management Inc bought a new stake in shares of Tenaris in the 4th quarter valued at $28,000. GAMMA Investing LLC boosted its holdings in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Tenaris by 78.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after buying an additional 478 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 1,284 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Tenaris during the third quarter worth about $67,000. 10.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TS. Piper Sandler boosted their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, March 22nd. BNP Paribas assumed coverage on Tenaris in a research report on Tuesday, April 22nd. They set an “outperform” rating for the company. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Finally, Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Tenaris presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Tenaris Stock Up 0.2 %

Shares of TS opened at $33.75 on Tuesday. The firm has a fifty day simple moving average of $36.04 and a two-hundred day simple moving average of $36.69. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.87. The stock has a market capitalization of $19.62 billion, a P/E ratio of 9.35 and a beta of 1.21.

Tenaris (NYSE:TS) last posted its 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. Sell-side analysts expect that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be paid a $0.56 dividend. The ex-dividend date is Tuesday, May 20th. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio (DPR) is presently 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.