Ruffer LLP Sells 50,670 Shares of Tenaris S.A. (NYSE:TS)

Ruffer LLP reduced its position in Tenaris S.A. (NYSE:TS) by 22.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,666 shares of the industrial products company’s stock after selling 50,670 shares during the period. Ruffer LLP’s holdings in Tenaris were worth $6,563,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TS. Wellington Management Group LLP raised its position in Tenaris by 187.4% during the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after purchasing an additional 1,660,300 shares during the period. ABC Arbitrage SA purchased a new stake in Tenaris during the fourth quarter valued at approximately $31,581,000. Holocene Advisors LP purchased a new stake in Tenaris during the third quarter valued at approximately $21,454,000. FMR LLC raised its holdings in shares of Tenaris by 21.3% in the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after buying an additional 614,884 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Tenaris by 102.5% in the third quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock worth $33,397,000 after buying an additional 531,860 shares during the period. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Stock Down 0.3 %

Shares of NYSE:TS opened at $37.23 on Friday. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.72. The stock has a market cap of $21.64 billion, a P/E ratio of 10.31 and a beta of 1.43. The business’s 50 day moving average is $38.24 and its 200 day moving average is $35.18.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. On average, sell-side analysts anticipate that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio (DPR) is 31.02%.

Wall Street Analyst Weigh In

TS has been the topic of several recent analyst reports. Stifel Nicolaus increased their price target on Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Piper Sandler increased their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Barclays increased their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.