Charles Schwab Investment Management Inc. Increases Stake in Tenaris S.A. (NYSE:TS)

Charles Schwab Investment Management Inc. raised its holdings in shares of Tenaris S.A. (NYSE:TS) by 16.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,946 shares of the industrial products company’s stock after purchasing an additional 3,814 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Tenaris were worth $1,018,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ballentine Partners LLC grew its position in shares of Tenaris by 6.1% in the fourth quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 516 shares in the last quarter. GAMMA Investing LLC grew its holdings in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after buying an additional 548 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Tenaris during the fourth quarter valued at about $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Tenaris in the third quarter worth about $33,000. Finally, US Bancorp DE lifted its holdings in shares of Tenaris by 7.5% in the fourth quarter. US Bancorp DE now owns 15,120 shares of the industrial products company’s stock worth $571,000 after buying an additional 1,061 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TS. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Barclays lifted their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Finally, Piper Sandler boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tenaris currently has a consensus rating of “Hold” and a consensus price target of $46.00.

Tenaris Stock Performance

TS stock opened at $39.07 on Monday. The firm has a 50 day moving average price of $38.35 and a 200-day moving average price of $36.29. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.87. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 10.82 and a beta of 1.43.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be given 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 is Tuesday, May 20th. Tenaris’s dividend payout ratio is 31.02%.

Tenaris 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.