Tenaris S.A. (NYSE:TS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its position in Tenaris S.A. (NYSE:TS) by 1.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 513,704 shares of the industrial products company’s stock after selling 5,114 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.09% of Tenaris worth $19,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in Tenaris in the fourth quarter valued at about $28,000. GAMMA Investing LLC raised its stake in shares of Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris in the 3rd quarter valued at approximately $33,000. EverSource Wealth Advisors LLC boosted its stake 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 buying an additional 478 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Tenaris in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TS. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Piper Sandler raised their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Stifel Nicolaus upped their target price on shares of Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Finally, Barclays boosted 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. 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Trading Down 7.7 %

Shares of TS opened at $33.15 on Monday. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.87. The stock has a market cap of $19.27 billion, a P/E ratio of 9.18 and a beta of 1.21. The company has a 50-day moving average of $38.22 and a two-hundred day moving average of $36.59.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (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 the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. As a group, analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be given 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 dividend 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.