Silvercrest Asset Management Group LLC Acquires 386 Shares of Tenaris S.A. (NYSE:TS)

Silvercrest Asset Management Group LLC increased its holdings in shares of Tenaris S.A. (NYSE:TS) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,796 shares of the industrial products company’s stock after acquiring an additional 386 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Tenaris were worth $3,696,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TS. Yaupon Capital Management LP bought a new position in Tenaris in the 4th quarter valued at about $12,594,000. Invesco Ltd. bought a new position in Tenaris in the 4th quarter valued at about $3,141,000. Crossmark Global Holdings Inc. increased its holdings in 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 buying an additional 13,374 shares during the period. Proficio Capital Partners LLC bought a new position in Tenaris in the 4th quarter valued at about $968,000. Finally, ABC Arbitrage SA bought a new position in Tenaris in the 4th quarter valued at about $31,581,000. 10.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TS. Piper Sandler raised their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Barclays set a $48.00 price target on shares of Tenaris and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Finally, BNP Paribas started coverage on shares of Tenaris in a research note on Tuesday, April 22nd. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.00.

Tenaris Price Performance

NYSE:TS opened at $34.08 on Tuesday. The firm’s 50 day simple moving average is $35.02 and its 200 day simple moving average is $36.87. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.87. The company has a market cap of $19.81 billion, a PE ratio of 9.44 and a beta of 1.27.

Tenaris (NYSE:TS) last posted 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. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the company earned $1.27 EPS. The firm’s revenue was down 15.1% compared to the same quarter last year. Equities research analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be given a $0.56 dividend. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s payout ratio is 68.29%.

Tenaris 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.