Citigroup Inc. Purchases 17,813 Shares of Tenaris S.A. $TS

Citigroup Inc. grew its position in Tenaris S.A. (NYSE:TS) by 36.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 67,350 shares of the industrial products company’s stock after buying an additional 17,813 shares during the period. Citigroup Inc.’s holdings in Tenaris were worth $2,409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sourcerock Group LLC boosted its holdings in Tenaris by 25.9% in the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after acquiring an additional 635,817 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Tenaris by 3.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock worth $66,120,000 after purchasing an additional 53,155 shares during the last quarter. ABC Arbitrage SA lifted its position in Tenaris by 65.9% during the 3rd quarter. ABC Arbitrage SA now owns 775,204 shares of the industrial products company’s stock valued at $27,729,000 after purchasing an additional 307,936 shares during the period. Bank of America Corp DE lifted its position in Tenaris by 47.5% during the 2nd quarter. Bank of America Corp DE now owns 595,604 shares of the industrial products company’s stock valued at $22,276,000 after purchasing an additional 191,858 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Tenaris by 2.3% in the 3rd quarter. Assetmark Inc. now owns 480,215 shares of the industrial products company’s stock valued at $17,177,000 after purchasing an additional 10,986 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TS. Morgan Stanley lifted their price target on shares of Tenaris from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Monday, February 23rd. Oddo Bhf raised shares of Tenaris to an “outperform” rating in a research note on Thursday, February 5th. Stifel Nicolaus lifted their target price on shares of Tenaris from $45.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $49.70 price target on shares of Tenaris in a research note on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.45.

Tenaris Price Performance

Shares of TS stock opened at $52.57 on Friday. The stock has a market cap of $30.56 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.87 and a beta of 0.87. The stock has a 50-day moving average of $46.04 and a 200-day moving average of $40.55. Tenaris S.A. has a one year low of $30.06 and a one year high of $55.02.

Tenaris (NYSE:TS) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm earned $0.94 EPS. Tenaris’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Tuesday, May 19th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, May 19th. This represents a yield of 450.0%. Tenaris’s dividend payout ratio (DPR) is 65.75%.

Tenaris Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.