Callan Family Office LLC Acquires New Holdings in Tenaris S.A. (NYSE:TS)

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

A number of other institutional investors have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. increased its stake in shares of Tenaris by 61.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 13,374 shares during the period. GAMMA Investing LLC lifted its stake in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the period. ABC Arbitrage SA bought a new stake in Tenaris in the fourth quarter valued at approximately $31,581,000. Concentric Capital Strategies LP acquired a new stake in Tenaris during the 3rd quarter valued at approximately $1,163,000. Finally, Wellington Management Group LLP raised its holdings in Tenaris by 187.4% during 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. 10.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TS has been the topic of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Kepler Capital Markets cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $46.00.

Tenaris Price Performance

Shares of TS opened at $37.23 on Monday. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The company has a market cap of $21.64 billion, a PE ratio of 10.31 and a beta of 1.43. The stock has a 50-day moving average of $38.24 and a 200-day moving average of $35.23.

Tenaris (NYSE:TS) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Analysts expect that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

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

Tenaris Company 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.