ExodusPoint Capital Management LP Makes New Investment in Tenaris S.A. (NYSE:TS)

ExodusPoint Capital Management LP bought a new position in Tenaris S.A. (NYSE:TS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 150,587 shares of the industrial products company’s stock, valued at approximately $5,691,000.

A number of other large investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its position 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 during the last quarter. ABC Arbitrage SA bought a new stake in shares of Tenaris during the fourth quarter worth $31,581,000. Assetmark Inc. lifted its stake in shares of Tenaris by 0.8% during the fourth quarter. Assetmark Inc. now owns 443,185 shares of the industrial products company’s stock valued at $16,748,000 after acquiring an additional 3,632 shares during the period. Carrhae Capital LLP bought a new position in Tenaris in the fourth quarter valued at about $16,545,000. Finally, Capital Insight Partners LLC increased its position in Tenaris by 3.8% in the fourth quarter. Capital Insight Partners LLC now owns 116,507 shares of the industrial products company’s stock worth $4,403,000 after purchasing an additional 4,230 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TS. Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Piper Sandler lifted their price objective on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, March 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Trading Down 7.7 %

TS stock opened at $33.15 on Friday. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.87. The business’s 50-day moving average price is $38.22 and its two-hundred day moving average price is $36.54. The firm has a market cap of $19.27 billion, a PE ratio of 9.18 and a beta of 1.43.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. On average, analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be given a $0.56 dividend. This is a boost 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 currently 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.