Tenaris S.A. $TS Shares Sold by Westwood Global Investments LLC

Westwood Global Investments LLC lessened its position in Tenaris S.A. (NYSE:TS) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,591,660 shares of the industrial products company’s stock after selling 239,707 shares during the quarter. Tenaris comprises 0.0% of Westwood Global Investments LLC’s holdings, making the stock its 5th largest position. Westwood Global Investments LLC owned 1.31% of Tenaris worth $271,554,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new position in Tenaris in the 3rd quarter valued at $47,000. Raymond James Financial Inc. purchased a new stake in shares of Tenaris during the second quarter worth $49,000. Farther Finance Advisors LLC grew its holdings in shares of Tenaris by 100.6% during the third quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock worth $52,000 after buying an additional 725 shares in the last quarter. CWM LLC raised its position in shares of Tenaris by 57.7% in the third quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock valued at $56,000 after buying an additional 571 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Tenaris by 38.5% in the third quarter. Versant Capital Management Inc now owns 4,205 shares of the industrial products company’s stock valued at $150,000 after buying an additional 1,168 shares during the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TS shares. Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a research note on Monday, December 29th. Oddo Bhf upgraded Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Barclays reiterated an “overweight” rating and set a $56.00 price objective on shares of Tenaris in a research report on Monday, February 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $49.70 target price on shares of Tenaris in a report on Monday, February 23rd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Tenaris in a research note on Wednesday. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.45.

Tenaris Stock Performance

Shares of Tenaris stock opened at $55.16 on Thursday. The stock has a 50 day moving average of $48.43 and a 200 day moving average of $41.56. The firm has a market capitalization of $32.07 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.98 and a beta of 0.87. Tenaris S.A. has a fifty-two week low of $30.06 and a fifty-two week high of $56.15.

Tenaris (NYSE:TS) last posted its earnings results on Thursday, February 19th. The industrial products company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.95 billion. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. Analysts forecast that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Tuesday, May 19th will be given a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a yield of 450.0%. Tenaris’s dividend payout ratio is presently 31.78%.

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.