Carrhae Capital LLP Acquires New Position in Tenaris S.A. (NYSE:TS)

Carrhae Capital LLP bought a new position in shares of Tenaris S.A. (NYSE:TS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 437,806 shares of the industrial products company’s stock, valued at approximately $16,545,000. Tenaris accounts for 1.4% of Carrhae Capital LLP’s holdings, making the stock its 17th biggest holding. Carrhae Capital LLP owned 0.08% of Tenaris as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in TS. Versant Capital Management Inc acquired a new position in shares of Tenaris during the 4th quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tenaris during the third quarter worth about $33,000. GAMMA Investing LLC raised its position in Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 478 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Tenaris by 291.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 1,284 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TS has been the topic of a number of analyst reports. Piper Sandler increased their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Saturday. Stifel Nicolaus boosted their price objective 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 research note on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $46.00.

Tenaris Stock Performance

TS opened at $39.64 on Tuesday. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.73. The company’s 50 day simple moving average is $38.29 and its 200 day simple moving average is $35.97. The stock has a market capitalization of $23.04 billion, a PE ratio of 10.98 and a beta of 1.43.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.71 billion. As a group, sell-side analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio (DPR) is 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.