Smartleaf Asset Management LLC Raises Stock Holdings in Tenaris S.A. (NYSE:TS)

Smartleaf Asset Management LLC increased its holdings in shares of Tenaris S.A. (NYSE:TS) by 291.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,725 shares of the industrial products company’s stock after buying an additional 1,284 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Tenaris were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ballentine Partners LLC grew its position in shares of Tenaris by 6.1% during the 4th quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company’s stock valued at $337,000 after acquiring an additional 516 shares during the period. GAMMA Investing LLC grew its holdings in Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 548 shares during the period. Versant Capital Management Inc bought a new position in Tenaris during the fourth quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Tenaris in the third quarter worth $33,000. Finally, US Bancorp DE raised its stake in shares of Tenaris by 7.5% in the fourth quarter. US Bancorp DE now owns 15,120 shares of the industrial products company’s stock valued at $571,000 after buying an additional 1,061 shares during the period. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of Tenaris stock opened at $37.23 on Monday. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.72. The company’s 50 day moving average price is $38.24 and its 200-day moving average price is $35.23. The stock has a market capitalization of $21.64 billion, a price-to-earnings ratio of 10.31 and a beta of 1.43.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, equities research analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued 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 payout ratio is 31.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Piper Sandler lifted their target price on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus raised their price objective on shares of Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price objective for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.00.

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.