Tenaris S.A. (NYSE:TS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in Tenaris S.A. (NYSE:TS) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 513,704 shares of the industrial products company’s stock after selling 5,114 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Tenaris were worth $19,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in shares of Tenaris in the 4th quarter valued at $28,000. GAMMA Investing LLC raised its position in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tenaris in the third quarter valued at $33,000. EverSource Wealth Advisors LLC grew its position in Tenaris by 78.9% during 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 period. Finally, Headlands Technologies LLC acquired a new stake in Tenaris during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Trading Down 7.7 %

NYSE TS opened at $33.15 on Monday. The stock has a market cap of $19.27 billion, a P/E ratio of 9.18 and a beta of 1.21. The company’s fifty day simple moving average is $38.22 and its 200-day simple moving average is $36.59. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.87.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. On average, research analysts expect that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued 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 dividend payout ratio is currently 31.02%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TS shares. Stifel Nicolaus lifted their price objective on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, February 21st. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Barclays lifted their target price on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.00.

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.