Smartleaf Asset Management LLC Buys 1,284 Shares of Tenaris S.A. (NYSE:TS)

Smartleaf Asset Management LLC lifted its stake in shares of Tenaris S.A. (NYSE:TS) by 291.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,725 shares of the industrial products company’s stock after acquiring an additional 1,284 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Tenaris were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TS. Crossmark Global Holdings Inc. lifted its stake in shares of Tenaris by 61.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after purchasing an additional 13,374 shares during the period. GAMMA Investing LLC increased its holdings in Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 548 shares in the last quarter. ABC Arbitrage SA acquired a new position in Tenaris in the fourth quarter valued at approximately $31,581,000. Concentric Capital Strategies LP bought a new position in shares of Tenaris during the 3rd quarter worth approximately $1,163,000. Finally, Wellington Management Group LLP grew its position in shares of Tenaris by 187.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after buying an additional 1,660,300 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on TS shares. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $47.00 in a report on Monday, December 9th. Piper Sandler raised their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays raised 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 equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Tenaris has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Stock Performance

TS stock opened at $37.23 on Monday. The business has a 50-day simple moving average of $38.24 and a two-hundred day simple moving average of $35.23. The company has a market capitalization of $21.64 billion, a P/E ratio of 10.31 and a beta of 1.43. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.72.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. The company had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. 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 announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be paid a $0.56 dividend. This is a positive change 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%.

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.