Moore Capital Management LP Sells 119,292 Shares of Tenaris S.A. (NYSE:TS)

Moore Capital Management LP trimmed its position in Tenaris S.A. (NYSE:TS) by 21.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 447,344 shares of the industrial products company’s stock after selling 119,292 shares during the period. Moore Capital Management LP owned about 0.08% of Tenaris worth $16,905,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Yaupon Capital Management LP bought a new position in shares of Tenaris in the fourth quarter valued at approximately $12,594,000. Invesco Ltd. bought a new position in Tenaris in the 4th quarter valued at $3,141,000. Crossmark Global Holdings Inc. increased its position in shares of Tenaris by 61.5% during 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 last quarter. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 548 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Tenaris during the 4th quarter worth $968,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Price Performance

Shares of Tenaris stock opened at $34.06 on Monday. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.87. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of 9.43 and a beta of 1.27. The company has a 50-day moving average of $35.32 and a 200 day moving average of $36.80.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.14. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.88 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The company’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.27 earnings per share. On average, equities analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be paid a dividend of $0.56 per share. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s payout ratio is 68.29%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Tenaris from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. BNP Paribas started coverage on Tenaris in a report on Tuesday, April 22nd. They set an “outperform” rating for the company. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Piper Sandler increased their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $46.50.

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.