Wellington Management Group LLP Has $88.10 Million Stock Position in Tenaris S.A. (NYSE:TS)

Wellington Management Group LLP lessened its stake in Tenaris S.A. (NYSE:TS) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,331,256 shares of the industrial products company’s stock after selling 214,928 shares during the quarter. Wellington Management Group LLP owned about 0.40% of Tenaris worth $88,098,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exencial Wealth Advisors LLC boosted its holdings in shares of Tenaris by 0.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company’s stock valued at $1,905,000 after purchasing an additional 270 shares in the last quarter. Signaturefd LLC boosted its stake in Tenaris by 2.3% in the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company’s stock valued at $705,000 after buying an additional 418 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 478 shares during the last quarter. Ballentine Partners LLC raised its stake in Tenaris by 6.1% during the fourth quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 516 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Trading Down 7.7 %

NYSE TS opened at $33.15 on Friday. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87. The firm has a market capitalization of $19.27 billion, a PE ratio of 9.18 and a beta of 1.43. The business’s 50-day moving average price is $38.22 and its two-hundred day moving average price is $36.49.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. As a group, analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal 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. The ex-dividend date is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio (DPR) is currently 31.02%.

Analyst Ratings Changes

TS has been the topic of several research reports. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, March 22nd. Barclays boosted their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Finally, Piper Sandler increased their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Tenaris currently has an average rating of “Hold” and a consensus price target of $46.00.

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.