Moody National Bank Trust Division bought a new stake in Tenaris SA (NYSE:TS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,375 shares of the industrial products company’s stock, valued at approximately $180,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TS. Cubist Systematic Strategies LLC purchased a new position in Tenaris in the 1st quarter valued at about $166,000. Greenleaf Trust acquired a new position in shares of Tenaris during the second quarter worth about $240,000. Seven Eight Capital LP acquired a new position in shares of Tenaris during the third quarter worth about $229,000. SG Americas Securities LLC increased its stake in shares of Tenaris by 50.6% during the second quarter. SG Americas Securities LLC now owns 10,268 shares of the industrial products company’s stock worth $374,000 after acquiring an additional 3,452 shares during the period. Finally, ING Groep NV acquired a new position in shares of Tenaris during the second quarter worth about $400,000. 13.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on TS shares. Bank of America upgraded shares of Tenaris from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $40.00 in a research note on Tuesday, September 25th. Stifel Nicolaus initiated coverage on shares of Tenaris in a research report on Monday, September 10th. They set a “buy” rating and a $41.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Tenaris in a research report on Thursday, August 23rd. They set a “buy” rating on the stock. Guggenheim restated a “buy” rating and set a $48.00 target price on shares of Tenaris in a research report on Friday, August 3rd. Finally, Piper Jaffray Companies set a $44.00 target price on shares of Tenaris and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $41.50.
Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.32 by $0.10. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.83 billion. Tenaris had a net margin of 11.35% and a return on equity of 6.96%. The company’s quarterly revenue was up 45.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share. Equities analysts anticipate that Tenaris SA will post 1.47 EPS for the current fiscal year.
The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Tuesday, November 20th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 19th. Tenaris’s dividend payout ratio is presently 145.45%.
Tenaris Company Profile
Tenaris SA 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 products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, tubular and non-tubular accessories, and devices.
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