Vestmark Advisory Solutions Inc. Takes $512,000 Position in Tenaris S.A. $TS

Vestmark Advisory Solutions Inc. purchased a new position in shares of Tenaris S.A. (NYSE:TS) in the 2nd quarter, Holdings Channel reports. The fund purchased 13,696 shares of the industrial products company’s stock, valued at approximately $512,000.

A number of other large investors have also modified their holdings of TS. Brooklyn Investment Group lifted its position in Tenaris by 169.5% in the 1st quarter. Brooklyn Investment Group now owns 717 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 451 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Tenaris in the second quarter valued at approximately $28,000. Harbour Investments Inc. acquired a new stake in shares of Tenaris in the first quarter valued at approximately $39,000. Blue Trust Inc. raised its holdings in shares of Tenaris by 48.8% during the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock valued at $41,000 after buying an additional 357 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Tenaris by 52.5% during the second quarter. GAMMA Investing LLC now owns 1,636 shares of the industrial products company’s stock worth $61,000 after buying an additional 563 shares during the period. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of TS stock opened at $41.25 on Wednesday. Tenaris S.A. has a 1 year low of $30.06 and a 1 year high of $41.76. The business’s fifty day moving average is $36.41 and its 200-day moving average is $35.95. The stock has a market cap of $23.98 billion, a PE ratio of 11.09 and a beta of 1.33.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.10. Tenaris had a return on equity of 11.76% and a net margin of 16.91%.The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 25th will be given a dividend of $0.58 per share. The ex-dividend date is Tuesday, November 25th. This represents a dividend yield of 291.0%. Tenaris’s dividend payout ratio (DPR) is 31.18%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TS shares. Sanford C. Bernstein assumed coverage on Tenaris in a report on Monday, July 21st. They issued an “outperform” rating for the company. Barclays reduced their price target on Tenaris from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday. BNP Paribas lowered Tenaris from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Finally, Cowen restated a “buy” rating on shares of Tenaris in a research note on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.60.

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.