Tenaris S.A. $TS Stake Lowered by Aventail Capital Group LP

Aventail Capital Group LP trimmed its stake in shares of Tenaris S.A. (NYSE:TS) by 60.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,210 shares of the industrial products company’s stock after selling 111,314 shares during the quarter. Aventail Capital Group LP’s holdings in Tenaris were worth $2,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in Tenaris during the 2nd quarter valued at approximately $49,000. Farther Finance Advisors LLC increased its position in Tenaris by 100.6% in the third quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock worth $52,000 after buying an additional 725 shares during the period. CWM LLC increased its position in Tenaris by 57.7% in the third quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock worth $56,000 after buying an additional 571 shares during the period. Versant Capital Management Inc lifted its stake in Tenaris by 38.5% in the third quarter. Versant Capital Management Inc now owns 4,205 shares of the industrial products company’s stock valued at $150,000 after buying an additional 1,168 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Tenaris by 224.2% during the second quarter. EverSource Wealth Advisors LLC now owns 4,448 shares of the industrial products company’s stock valued at $166,000 after acquiring an additional 3,076 shares during the period. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Down 1.2%

Shares of NYSE TS opened at $52.86 on Friday. Tenaris S.A. has a fifty-two week low of $30.06 and a fifty-two week high of $55.02. The firm’s 50-day simple moving average is $47.54 and its 200 day simple moving average is $41.17. The stock has a market cap of $30.73 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.88 and a beta of 0.87.

Tenaris (NYSE:TS) last announced its earnings results on Thursday, February 19th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.95 billion. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. Tenaris’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, sell-side analysts anticipate that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 19th will be paid a $1.20 dividend. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Tenaris’s dividend payout ratio is currently 31.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TS shares. Barclays restated an “overweight” rating and set a $56.00 price target on shares of Tenaris in a research report on Monday, February 23rd. Morgan Stanley boosted their target price on shares of Tenaris from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. The Goldman Sachs Group restated a “neutral” rating and issued a $49.70 target price on shares of Tenaris in a research report on Monday, February 23rd. Oddo Bhf upgraded shares of Tenaris to an “outperform” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tenaris presently has a consensus rating of “Hold” and a consensus target price of $50.45.

About Tenaris

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.