Atlas Capital Advisors Inc. Takes $229,000 Position in Tenaris S.A. (NYSE:TS)

Atlas Capital Advisors Inc. 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. The institutional investor bought 6,067 shares of the industrial products company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in Tenaris during the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tenaris in the third quarter valued at $33,000. GAMMA Investing LLC increased its holdings in Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 478 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Tenaris in the fourth quarter valued at $42,000. 10.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TS shares. Stifel Nicolaus raised their target price 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 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 boosted their target price for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Barclays raised their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $46.00.

Tenaris Trading Down 7.7 %

Shares of TS opened at $33.15 on Friday. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.87. The firm’s 50 day moving average is $38.22 and its 200-day moving average is $36.49. The stock has a market capitalization of $19.27 billion, a PE ratio of 9.18 and a beta of 1.43.

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

Tenaris Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s payout ratio is 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.