Ashton Thomas Private Wealth LLC Takes $868,000 Position in Tenaris S.A. (NYSE:TS)

Ashton Thomas Private Wealth LLC purchased a new stake in Tenaris S.A. (NYSE:TS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 22,968 shares of the industrial products company’s stock, valued at approximately $868,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its stake 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 valued at $1,327,000 after purchasing an additional 13,374 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 548 shares during the last quarter. ABC Arbitrage SA bought a new position in shares of Tenaris in the 4th quarter valued at $31,581,000. Concentric Capital Strategies LP bought a new position in shares of Tenaris in the 3rd quarter valued at $1,163,000. Finally, Wellington Management Group LLP increased its stake in shares of Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after purchasing an additional 1,660,300 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TS shares. Stifel Nicolaus boosted their price objective on Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Piper Sandler boosted their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Barclays boosted their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Tenaris has an average rating of “Hold” and a consensus target price of $46.00.

Tenaris Trading Down 0.3 %

Shares of TS opened at $37.23 on Monday. The company has a market capitalization of $21.64 billion, a PE ratio of 10.31 and a beta of 1.43. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.72. The stock’s 50-day moving average price is $38.24 and its two-hundred day moving average price is $35.23.

Tenaris (NYSE:TS) last announced 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 for the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. Equities research analysts predict that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The firm also recently disclosed 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. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s payout ratio is currently 31.02%.

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.