Merewether Investment Management LP Acquires New Holdings in Tenaris S.A. (NYSE:TS)

Merewether Investment Management LP acquired a new stake in Tenaris S.A. (NYSE:TS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 536,413 shares of the industrial products company’s stock, valued at approximately $20,271,000. Merewether Investment Management LP owned approximately 0.09% of Tenaris as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Yaupon Capital Management LP acquired a new stake in shares of Tenaris during the 4th quarter worth approximately $12,594,000. Invesco Ltd. acquired a new stake in shares of Tenaris during the 4th quarter worth approximately $3,141,000. Crossmark Global Holdings Inc. grew its holdings 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 worth $1,327,000 after purchasing an additional 13,374 shares in the last quarter. GAMMA Investing LLC grew its holdings 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 worth $35,000 after purchasing an additional 548 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Tenaris during the 4th quarter worth approximately $968,000. 10.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TS has been the topic of several recent research reports. Stifel Nicolaus decreased their price objective on Tenaris from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Bank of America lowered Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Piper Sandler boosted their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.50.

Tenaris Stock Performance

Shares of Tenaris stock opened at $34.71 on Tuesday. The business’s 50 day simple moving average is $35.26 and its 200 day simple moving average is $36.81. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.87. The firm has a market cap of $20.18 billion, a PE ratio of 9.61 and a beta of 1.27.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.80 by $0.14. The company had revenue of $2.92 billion during 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 firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. As a group, equities research analysts predict that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders 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 presently 68.29%.

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.