Tenaris S.A. (NYSE:TS) Holdings Trimmed by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC cut its holdings in Tenaris S.A. (NYSE:TS) by 31.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 425,017 shares of the industrial products company’s stock after selling 190,713 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.07% of Tenaris worth $16,061,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Crossmark Global Holdings Inc. raised its holdings in shares of Tenaris by 61.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock worth $1,327,000 after purchasing an additional 13,374 shares in the last quarter. GAMMA Investing LLC grew its position in Tenaris by 140.2% in the fourth 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 last quarter. ABC Arbitrage SA acquired a new position in Tenaris in the fourth quarter worth approximately $31,581,000. Proficio Capital Partners LLC bought a new position in shares of Tenaris in the fourth quarter valued at $968,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Tenaris by 291.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 1,284 shares during the last quarter. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Price Performance

Shares of TS opened at $33.15 on Friday. The business’s 50-day moving average is $38.22 and its 200-day moving average is $36.54. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 9.18 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 $40.87.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.31. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. Equities research analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current fiscal 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 issued a dividend of $0.56 per share. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s dividend payout ratio (DPR) is currently 31.02%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TS. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Barclays lifted their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Piper Sandler lifted their target price on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Finally, StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.00.

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.