Bank of New York Mellon Corp Buys 2,726 Shares of Tenaris S.A. (NYSE:TS)

Bank of New York Mellon Corp lifted its stake in Tenaris S.A. (NYSE:TS) by 26.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,846 shares of the industrial products company’s stock after buying an additional 2,726 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tenaris were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc bought a new stake in Tenaris during the 4th quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tenaris during the 3rd quarter valued at $33,000. GAMMA Investing LLC lifted its stake in shares of Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after buying an additional 548 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Tenaris in the 3rd quarter worth $67,000. Finally, Barclays PLC increased its stake in Tenaris by 30,000.0% in the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock worth $192,000 after buying an additional 6,000 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of TS opened at $39.64 on Friday. The stock has a 50-day moving average of $38.34 and a two-hundred day moving average of $36.10. The stock has a market cap of $23.05 billion, a P/E ratio of 10.98 and a beta of 1.43. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.87.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate 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 return on equity of 11.76% and a net margin of 16.26%. Analysts predict that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

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

Analyst Ratings Changes

TS has been the subject of several research analyst reports. Barclays increased their target price on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Stifel Nicolaus increased their price objective on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday, February 21st. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $47.00 in a report on Monday, December 9th. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, March 22nd. Finally, Bank of America cut shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Two equities research 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’s stock. According to data from MarketBeat, Tenaris currently has a consensus rating of “Hold” and an average 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.