KLP Kapitalforvaltning AS Grows Stock Holdings in Tenaris S.A. $TS

KLP Kapitalforvaltning AS grew its holdings in Tenaris S.A. (NYSE:TS) by 183.3% during the third quarter, HoldingsChannel.com reports. The fund owned 85,000 shares of the industrial products company’s stock after purchasing an additional 55,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Tenaris were worth $3,040,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MGO One Seven LLC boosted its position in Tenaris by 5.4% during the 2nd quarter. MGO One Seven LLC now owns 5,940 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 302 shares during the period. Rhumbline Advisers lifted its stake in shares of 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 purchasing an additional 338 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Tenaris by 48.8% during the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 357 shares in the last quarter. Baron Wealth Management LLC boosted its position in shares of Tenaris by 7.0% in the second quarter. Baron Wealth Management LLC now owns 5,852 shares of the industrial products company’s stock worth $219,000 after buying an additional 384 shares during the period. Finally, Profund Advisors LLC grew its stake in shares of Tenaris by 3.6% in the second quarter. Profund Advisors LLC now owns 12,687 shares of the industrial products company’s stock valued at $474,000 after buying an additional 437 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Trading Down 1.4%

Shares of NYSE:TS opened at $40.00 on Friday. The company has a fifty day simple moving average of $39.89 and a 200 day simple moving average of $37.55. The firm has a market cap of $23.25 billion, a PE ratio of 10.75 and a beta of 0.96. Tenaris S.A. has a 12-month low of $30.06 and a 12-month high of $41.76.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.85 billion. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. As a group, equities research analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Announces Dividend

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

Analyst Ratings Changes

Several research firms recently commented on TS. The Goldman Sachs Group initiated coverage on Tenaris in a research report on Monday, December 15th. They set a “neutral” rating and a $43.60 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. BNP Paribas Exane reaffirmed a “neutral” rating on shares of Tenaris in a report on Friday, October 10th. Finally, Cowen reaffirmed a “buy” rating on shares of Tenaris in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.32.

Tenaris Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.