Tenaris S.A. (NYSE:TS) Shares Sold by Ruffer LLP

Ruffer LLP lessened its holdings in Tenaris S.A. (NYSE:TS) by 22.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 173,666 shares of the industrial products company’s stock after selling 50,670 shares during the period. Ruffer LLP’s holdings in Tenaris were worth $6,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. West Family Investments Inc. lifted its position in shares of Tenaris by 20.8% during the 4th quarter. West Family Investments Inc. now owns 7,616 shares of the industrial products company’s stock valued at $288,000 after buying an additional 1,309 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Tenaris during the 4th quarter worth $868,000. Callan Family Office LLC purchased a new position in shares of Tenaris during the 4th quarter worth approximately $450,000. Proficio Capital Partners LLC acquired a new position in Tenaris in the 4th quarter valued at about $968,000. Finally, Assetmark Inc. grew its stake in shares of Tenaris by 0.8% in the fourth quarter. Assetmark Inc. now owns 443,185 shares of the industrial products company’s stock worth $16,748,000 after acquiring an additional 3,632 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TS shares. Piper Sandler boosted 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 cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Stifel Nicolaus upped their target price on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday, February 21st. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Barclays increased their target price on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Tenaris Trading Down 0.3 %

Tenaris stock opened at $37.23 on Friday. The company has a market capitalization of $21.64 billion, a P/E ratio of 10.31 and a beta of 1.43. The firm’s fifty day simple moving average is $38.24 and its 200-day simple moving average is $35.18. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.63 by $0.31. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. On average, equities 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 disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be given a $0.56 dividend. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is presently 31.02%.

Tenaris 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.