Kiltearn Partners LLP Increases Stock Position in Tenaris S.A. $TS

Kiltearn Partners LLP increased its position in Tenaris S.A. (NYSE:TS) by 85.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 319,559 shares of the industrial products company’s stock after buying an additional 147,600 shares during the quarter. Tenaris comprises about 2.4% of Kiltearn Partners LLP’s investment portfolio, making the stock its 17th biggest position. Kiltearn Partners LLP owned 0.05% of Tenaris worth $11,952,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. lifted its stake in shares of Tenaris by 18.8% in the 2nd quarter. Thornburg Investment Management Inc. now owns 25,031 shares of the industrial products company’s stock valued at $936,000 after purchasing an additional 3,968 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Tenaris by 106.1% in the second quarter. Russell Investments Group Ltd. now owns 7,495 shares of the industrial products company’s stock valued at $280,000 after buying an additional 3,859 shares during the period. XTX Topco Ltd purchased a new stake in Tenaris during the second quarter worth approximately $551,000. Rhumbline Advisers grew its stake in Tenaris by 4.2% during the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after buying an additional 338 shares during the period. Finally, Cadence Wealth Management LLC increased its position in shares of Tenaris by 8.3% in the second quarter. Cadence Wealth Management LLC now owns 20,618 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 1,574 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TS has been the topic of several research reports. BNP Paribas Exane reissued a “neutral” rating on shares of Tenaris in a research report on Friday, October 10th. Wall Street Zen cut Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler lowered shares of Tenaris from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $48.00 to $41.00 in a research note on Wednesday, September 17th. Barclays reduced their target price on shares of Tenaris from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a report on Monday. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.60.

Tenaris Price Performance

NYSE TS opened at $39.93 on Thursday. The company has a market capitalization of $23.22 billion, a price-to-earnings ratio of 10.73 and a beta of 1.33. Tenaris S.A. has a 12 month low of $30.06 and a 12 month high of $41.76. The company’s fifty day moving average price is $37.43 and its two-hundred day moving average price is $36.45.

Tenaris (NYSE:TS) last issued its earnings results on Thursday, October 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Tenaris had a net margin of 16.91% and a return on equity of 11.76%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 25th were paid a dividend of $0.58 per share. The ex-dividend date was Tuesday, November 25th. This represents a yield of 291.0%. Tenaris’s dividend payout ratio is presently 31.18%.

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.