Y Intercept Hong Kong Ltd Buys 78,090 Shares of Tenaris S.A. $TS

Y Intercept Hong Kong Ltd lifted its stake in shares of Tenaris S.A. (NYSE:TS) by 1,183.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,686 shares of the industrial products company’s stock after acquiring an additional 78,090 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Tenaris were worth $3,029,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Sourcerock Group LLC boosted its stake in shares of Tenaris by 25.9% during the second quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after purchasing an additional 635,817 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Tenaris by 3.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,767,924 shares of the industrial products company’s stock valued at $66,120,000 after acquiring an additional 53,155 shares during the period. Bank of America Corp DE increased its holdings in shares of Tenaris by 47.5% in the 2nd quarter. Bank of America Corp DE now owns 595,604 shares of the industrial products company’s stock valued at $22,276,000 after acquiring an additional 191,858 shares during the period. Assetmark Inc. raised its position in shares of Tenaris by 4.3% in the 2nd quarter. Assetmark Inc. now owns 469,229 shares of the industrial products company’s stock worth $17,549,000 after acquiring an additional 19,391 shares in the last quarter. Finally, ABC Arbitrage SA lifted its stake in shares of Tenaris by 252.6% during the 2nd quarter. ABC Arbitrage SA now owns 467,268 shares of the industrial products company’s stock worth $17,476,000 after purchasing an additional 334,755 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Stock Up 0.1%

Tenaris stock opened at $44.47 on Tuesday. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 11.96 and a beta of 0.96. Tenaris S.A. has a 52 week low of $30.06 and a 52 week high of $45.42. The business’s 50-day moving average price is $40.33 and its 200 day moving average price is $37.93.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.85 billion. Tenaris had a return on equity of 11.72% and a net margin of 16.91%.Tenaris’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. Equities analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 25th were given a dividend of $0.58 per share. This represents a yield of 291.0%. The ex-dividend date was Tuesday, November 25th. Tenaris’s dividend payout ratio (DPR) is currently 31.18%.

Analyst Upgrades and Downgrades

TS has been the subject of a number of recent research reports. The Goldman Sachs Group started coverage on shares of Tenaris in a report on Monday, December 15th. They issued a “neutral” rating and a $43.60 target price for the company. TD Cowen restated a “buy” rating on shares of Tenaris in a research note on Wednesday, January 7th. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. BNP Paribas Exane downgraded shares of Tenaris from an “outperform” rating to a “hold” rating in a report on Friday, October 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tenaris has an average rating of “Hold” and a consensus price target of $42.72.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.