US Bancorp DE Acquires 1,188 Shares of Tenaris S.A. (NYSE:TS)

US Bancorp DE increased its holdings in Tenaris S.A. (NYSE:TS – Get Rating) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,121 shares of the industrial products company’s stock after buying an additional 1,188 shares during the period. US Bancorp DE’s holdings in Tenaris were worth $288,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Ronald Blue Trust Inc. lifted its position in shares of Tenaris by 50.7% during the third quarter. Ronald Blue Trust Inc. now owns 1,278 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 430 shares in the last quarter. CWM LLC lifted its holdings in Tenaris by 113.4% during the 2nd quarter. CWM LLC now owns 1,033 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 549 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in Tenaris by 3.3% in the 1st quarter. Wetherby Asset Management Inc. now owns 17,634 shares of the industrial products company’s stock worth $530,000 after purchasing an additional 557 shares during the period. Captrust Financial Advisors grew its holdings in Tenaris by 155.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock valued at $29,000 after buying an additional 676 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in shares of Tenaris by 3.4% during the first quarter. Evergreen Capital Management LLC now owns 22,410 shares of the industrial products company’s stock valued at $674,000 after buying an additional 733 shares during the period. 12.15% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Trading Down 0.3 %

TS opened at $34.75 on Wednesday. The stock has a market capitalization of $20.51 billion, a P/E ratio of 9.68, a PEG ratio of 0.30 and a beta of 1.47. The stock has a 50-day moving average price of $34.07 and a 200-day moving average price of $30.08. Tenaris S.A. has a 12-month low of $22.24 and a 12-month high of $38.00.

Tenaris (NYSE:TS – Get Rating) last released its earnings results on Thursday, November 3rd. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.93 billion. Tenaris had a return on equity of 16.63% and a net margin of 20.75%. On average, equities research analysts predict that Tenaris S.A. will post 4.39 EPS for the current year.

Tenaris Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, November 23rd. Investors of record on Tuesday, November 22nd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Monday, November 21st. This is a positive change from Tenaris’s previous dividend of $0.26. Tenaris’s dividend payout ratio (DPR) is currently 18.94%.

Analysts Set New Price Targets

A number of research firms have recently commented on TS. Stifel Nicolaus upgraded shares of Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the company from $30.00 to $38.00 in a research report on Thursday, October 13th. Grupo Santander downgraded shares of Tenaris from an “outperform” rating to a “neutral” rating in a report on Monday, November 28th. Piper Sandler upped their price target on shares of Tenaris from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, November 18th. JPMorgan Chase & Co. lifted their price objective on Tenaris from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, November 15th. Finally, StockNews.com cut Tenaris from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.08.

Tenaris Company Profile

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Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.