Bank of New York Mellon Corp Has $485,000 Position in Tenaris S.A. (NYSE:TS)

Bank of New York Mellon Corp boosted its position in shares of Tenaris S.A. (NYSE:TS) by 26.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,846 shares of the industrial products company’s stock after buying an additional 2,726 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tenaris were worth $485,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TS. Versant Capital Management Inc bought a new position in shares of Tenaris during the 4th quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tenaris in the third quarter valued at approximately $33,000. GAMMA Investing LLC increased its position in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tenaris during the third quarter worth $67,000. Finally, Barclays PLC lifted its position in Tenaris by 30,000.0% in the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 6,000 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TS. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $47.00 in a report on Monday, December 9th. Stifel Nicolaus boosted their target price on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Finally, Barclays upped their price objective on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.00.

Tenaris Stock Down 1.4 %

Shares of NYSE TS opened at $39.64 on Friday. The business has a 50-day simple moving average of $38.34 and a two-hundred day simple moving average of $36.10. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87. The company has a market cap of $23.05 billion, a P/E ratio of 10.98 and a beta of 1.43.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. Equities research analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.56 per share. 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 presently 31.02%.

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.