Proficio Capital Partners LLC Takes $968,000 Position in Tenaris S.A. (NYSE:TS)

Proficio Capital Partners LLC purchased a new position in shares of Tenaris S.A. (NYSE:TS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 25,622 shares of the industrial products company’s stock, valued at approximately $968,000.

A number of other hedge funds have also bought and sold shares of the business. Versant Capital Management Inc acquired a new stake in shares of Tenaris in the 4th quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris during the 3rd quarter worth approximately $33,000. GAMMA Investing LLC boosted its position 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 buying an additional 548 shares during the period. Smartleaf Asset Management LLC boosted its position in Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock worth $65,000 after buying an additional 1,284 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Tenaris during the 3rd quarter worth approximately $67,000. 10.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

TS has been the subject of several analyst reports. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Piper Sandler lifted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Stifel Nicolaus lifted their price target on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.00.

Tenaris Stock Performance

Shares of NYSE:TS opened at $39.36 on Friday. The company’s 50-day moving average is $38.27 and its 200 day moving average is $35.80. The company has a market capitalization of $22.88 billion, a P/E ratio of 10.90 and a beta of 1.43. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.73.

Tenaris (NYSE:TS) last announced its quarterly earnings data 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. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. 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 company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a $0.56 dividend. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio 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.