Van ECK Associates Corp Trims Holdings in Tenaris S.A. (NYSE:TS)

Van ECK Associates Corp lowered its stake in Tenaris S.A. (NYSE:TS) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,273,569 shares of the industrial products company’s stock after selling 1,006,091 shares during the period. Van ECK Associates Corp owned 0.55% of Tenaris worth $113,790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Greenleaf Trust bought a new position in shares of Tenaris in the 4th quarter worth about $210,000. Ballentine Partners LLC grew its stake in shares of Tenaris by 8.0% in the fourth quarter. Ballentine Partners LLC now owns 8,089 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 600 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Tenaris by 19.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,946 shares of the industrial products company’s stock valued at $314,000 after acquiring an additional 1,643 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Tenaris in the 3rd quarter worth about $333,000. Finally, Advisor Partners II LLC grew its position in Tenaris by 25.6% during the 3rd quarter. Advisor Partners II LLC now owns 10,662 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 2,171 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Price Performance

Shares of NYSE:TS traded down $0.48 on Tuesday, hitting $33.60. 456,867 shares of the company’s stock were exchanged, compared to its average volume of 2,063,264. The business’s 50 day simple moving average is $37.81 and its two-hundred day simple moving average is $34.89. The stock has a market capitalization of $19.83 billion, a price-to-earnings ratio of 5.68, a price-to-earnings-growth ratio of 2.16 and a beta of 1.47. Tenaris S.A. has a 12 month low of $24.69 and a 12 month high of $40.72.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.89. Tenaris had a return on equity of 21.50% and a net margin of 24.89%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.08 billion. Equities analysts forecast that Tenaris S.A. will post 4.06 EPS for the current fiscal year.

Tenaris Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 21st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s dividend payout ratio (DPR) is currently 13.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Morgan Stanley downgraded Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a report on Thursday, April 18th. Bank of America began coverage on shares of Tenaris in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Finally, Jefferies Financial Group cut Tenaris from a “buy” rating to a “hold” rating in a report on Thursday, January 4th.

Tenaris Company 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.