Kiltearn Partners LLP Cuts Stake in Tenaris S.A. $TS

Kiltearn Partners LLP reduced its stake in Tenaris S.A. (NYSE:TS) by 6.6% during the third quarter, HoldingsChannel.com reports. The fund owned 298,459 shares of the industrial products company’s stock after selling 21,100 shares during the quarter. Tenaris comprises approximately 2.1% of Kiltearn Partners LLP’s holdings, making the stock its 19th biggest position. Kiltearn Partners LLP’s holdings in Tenaris were worth $10,676,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TS. Sourcerock Group LLC increased its holdings in shares of Tenaris by 25.9% in the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock worth $115,419,000 after purchasing an additional 635,817 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in Tenaris by 3.1% during the second quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock valued at $66,120,000 after buying an additional 53,155 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Tenaris by 20.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,134,260 shares of the industrial products company’s stock valued at $40,572,000 after buying an additional 192,794 shares in the last quarter. Optiver Holding B.V. grew its holdings in Tenaris by 186.8% during the 3rd quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock valued at $32,384,000 after buying an additional 589,625 shares in the last quarter. Finally, ABC Arbitrage SA increased its stake in Tenaris by 65.9% in the 3rd quarter. ABC Arbitrage SA now owns 775,204 shares of the industrial products company’s stock worth $27,729,000 after acquiring an additional 307,936 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Analyst Ratings Changes

TS has been the topic of several research reports. Barclays restated an “overweight” rating and issued a $56.00 price target on shares of Tenaris in a research report on Monday, February 23rd. Morgan Stanley lifted their price objective on shares of Tenaris from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Monday, February 23rd. Wall Street Zen upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Saturday. Oddo Bhf upgraded shares of Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Finally, Stifel Nicolaus increased their price target on shares of Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.45.

Tenaris Stock Down 0.2%

Shares of Tenaris stock opened at $52.57 on Monday. The stock’s fifty day moving average is $46.04 and its two-hundred day moving average is $40.59. Tenaris S.A. has a 52 week low of $30.06 and a 52 week high of $55.02. The company has a market capitalization 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.

Tenaris (NYSE:TS) last released its earnings results 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. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.95 billion. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. 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 business also recently disclosed a dividend, which will be paid on Wednesday, May 20th. Investors of record on Tuesday, May 19th will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, May 19th. This represents a yield of 450.0%. Tenaris’s dividend payout ratio (DPR) is presently 31.78%.

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.