Callan Family Office LLC Purchases New Position in Tenaris S.A. (NYSE:TS)

Callan Family Office LLC acquired a new position in shares of Tenaris S.A. (NYSE:TS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,904 shares of the industrial products company’s stock, valued at approximately $450,000.

A number of other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position 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 valued at $111,381,000 after acquiring an additional 614,884 shares during the period. Wellington Management Group LLP raised its stake in Tenaris by 187.4% in the 3rd 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 in the last quarter. Point72 Asset Management L.P. boosted its holdings in Tenaris by 102.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock valued at $33,397,000 after purchasing an additional 531,860 shares during the period. ABC Arbitrage SA acquired a new position in shares of Tenaris during the 4th quarter worth approximately $31,581,000. Finally, Holocene Advisors LP bought a new position in shares of Tenaris during the third quarter worth approximately $21,454,000. Institutional investors own 10.45% of the company’s stock.

Analysts Set New Price Targets

TS has been the subject of several recent research reports. Piper Sandler boosted their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Stifel Nicolaus upped their target price on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and raised their price target for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Kepler Capital Markets cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Finally, StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.00.

Tenaris Stock Down 0.3 %

NYSE:TS opened at $37.23 on Monday. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72. The stock’s 50-day simple moving average is $38.24 and its 200 day simple moving average is $35.23. The firm has a market capitalization of $21.64 billion, a PE ratio of 10.31 and a beta of 1.43.

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, beating analysts’ consensus estimates of $0.63 by $0.31. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. On average, 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 paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, May 20th. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s payout ratio is presently 31.02%.

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.