Foresight Global Investors Inc. Cuts Stock Holdings in Tenaris S.A. (NYSE:TS)

Foresight Global Investors Inc. lessened its position in shares of Tenaris S.A. (NYSE:TS) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,862 shares of the industrial products company’s stock after selling 44,451 shares during the period. Tenaris comprises 8.3% of Foresight Global Investors Inc.’s holdings, making the stock its 6th largest position. Foresight Global Investors Inc. owned approximately 0.07% of Tenaris worth $14,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TS. Natixis Advisors L.P. lifted its stake in Tenaris by 7.2% in the 4th quarter. Natixis Advisors L.P. now owns 642,049 shares of the industrial products company’s stock valued at $22,317,000 after acquiring an additional 43,223 shares in the last quarter. West Family Investments Inc. acquired a new position in shares of Tenaris during the 4th quarter worth about $218,000. Beck Bode LLC grew its holdings in shares of Tenaris by 2.3% in the 4th quarter. Beck Bode LLC now owns 35,112 shares of the industrial products company’s stock valued at $1,220,000 after acquiring an additional 782 shares in the last quarter. Signaturefd LLC raised its holdings in Tenaris by 5.2% during the fourth quarter. Signaturefd LLC now owns 15,695 shares of the industrial products company’s stock worth $546,000 after acquiring an additional 782 shares in the last quarter. Finally, Greenleaf Trust acquired a new position in Tenaris during the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TS. Bank of America assumed coverage on Tenaris in a research note on Tuesday, January 16th. They set a “neutral” rating on the stock. Piper Sandler cut their price target on shares of Tenaris from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Morgan Stanley lowered shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price objective on the stock. in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $41.60.

Tenaris Price Performance

Tenaris stock traded up $0.96 during mid-day trading on Thursday, hitting $34.59. 1,176,776 shares of the company’s stock traded hands, compared to its average volume of 2,063,312. The firm has a 50 day simple moving average of $37.63 and a two-hundred day simple moving average of $34.90. Tenaris S.A. has a fifty-two week low of $24.69 and a fifty-two week high of $40.72. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 5.77, a P/E/G ratio of 2.59 and a beta of 1.51.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.89. The company had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. On average, research analysts anticipate that Tenaris S.A. will post 3.91 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 22nd. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s payout ratio is currently 26.67%.

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.