Commonwealth Equity Services LLC Has $366,000 Stock Holdings in Tenaris S.A. (NYSE:TS)

Commonwealth Equity Services LLC lowered its position in shares of Tenaris S.A. (NYSE:TS) by 16.4% in the fourth quarter, Holdings Channel reports. The firm owned 9,688 shares of the industrial products company’s stock after selling 1,903 shares during the period. Commonwealth Equity Services LLC’s holdings in Tenaris were worth $366,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of 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 worth $80,943,000 after purchasing an additional 1,660,300 shares during the period. ABC Arbitrage SA bought a new stake in Tenaris during the 4th quarter worth approximately $31,581,000. World Investment Advisors LLC acquired a new stake in Tenaris during the 3rd quarter worth approximately $2,200,000. Proficio Capital Partners LLC bought a new position in Tenaris in the fourth quarter valued at approximately $968,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Tenaris in the fourth quarter valued at approximately $868,000. Institutional investors own 10.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler increased their price objective on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 25th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, March 22nd. Barclays increased their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, Stifel Nicolaus boosted their target price on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, February 21st. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.00.

Tenaris Stock Performance

NYSE:TS opened at $33.15 on Monday. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.87. The company has a market cap of $19.27 billion, a P/E ratio of 9.18 and a beta of 1.21. The stock’s 50-day simple moving average is $38.22 and its 200 day simple moving average is $36.59.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share 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%. As a group, equities analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The company also recently declared 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. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio is 31.02%.

Tenaris 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.