Kiltearn Partners LLP Trims Stock Position in Tenaris S.A. $TS

Kiltearn Partners LLP lessened its holdings in Tenaris S.A. (NYSE:TS) by 6.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 298,459 shares of the industrial products company’s stock after selling 21,100 shares during the period. Tenaris comprises approximately 2.1% of Kiltearn Partners LLP’s holdings, making the stock its 19th biggest position. Kiltearn Partners LLP owned approximately 0.05% of Tenaris worth $10,676,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in Tenaris during the second quarter valued at approximately $49,000. Farther Finance Advisors LLC boosted its stake in shares of Tenaris by 100.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock worth $52,000 after acquiring an additional 725 shares during the last quarter. CWM LLC grew its position in shares of Tenaris by 57.7% during the 3rd quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 571 shares during the period. Versant Capital Management Inc grew its position in shares of Tenaris by 38.5% during the 3rd quarter. Versant Capital Management Inc now owns 4,205 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 1,168 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Tenaris by 224.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,448 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 3,076 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

TS opened at $52.57 on Monday. The stock has a market cap of $30.56 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.87 and a beta of 0.87. The firm’s fifty day moving average is $46.04 and its 200 day moving average is $40.59. Tenaris S.A. has a fifty-two week low of $30.06 and a fifty-two week high of $55.02.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business posted $0.94 EPS. Tenaris’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, May 20th. Investors of record on Tuesday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, May 19th. This represents a dividend yield of 450.0%. Tenaris’s dividend payout ratio (DPR) is currently 31.78%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Stifel Nicolaus lifted their target price on Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Saturday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $49.70 price objective on shares of Tenaris in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. Finally, Oddo Bhf upgraded Tenaris to an “outperform” rating in a research note on Thursday, February 5th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tenaris has a consensus rating of “Hold” and a consensus target price of $50.45.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value?added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.