Cerity Partners LLC Lowers Stock Holdings in Tenaris S.A. (NYSE:TS)

Cerity Partners LLC reduced its position in Tenaris S.A. (NYSE:TS) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,284 shares of the industrial products company’s stock after selling 435 shares during the period. Cerity Partners LLC’s holdings in Tenaris were worth $601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TS. Westwood Global Investments LLC boosted its holdings in shares of Tenaris by 2.8% in the 3rd quarter. Westwood Global Investments LLC now owns 8,825,549 shares of the industrial products company’s stock valued at $278,887,000 after purchasing an additional 243,148 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Tenaris by 6.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,279,660 shares of the industrial products company’s stock valued at $135,238,000 after purchasing an additional 256,547 shares during the last quarter. FMR LLC boosted its holdings in shares of Tenaris by 3.0% in the 3rd quarter. FMR LLC now owns 3,135,820 shares of the industrial products company’s stock valued at $99,092,000 after purchasing an additional 90,940 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Tenaris by 101.5% in the 3rd quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock valued at $27,723,000 after purchasing an additional 442,016 shares during the last quarter. Finally, Pantechnicon Advisors LLP boosted its holdings in shares of Tenaris by 24.7% in the 3rd quarter. Pantechnicon Advisors LLP now owns 605,000 shares of the industrial products company’s stock valued at $19,118,000 after purchasing an additional 120,000 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Trading Down 1.5 %

NYSE:TS opened at $37.32 on Thursday. The firm has a market capitalization of $22.03 billion, a price-to-earnings ratio of 5.62, a PEG ratio of 2.35 and a beta of 1.47. The firm’s fifty day simple moving average is $37.63 and its 200 day simple moving average is $34.82. Tenaris S.A. has a twelve month low of $24.69 and a twelve month high of $40.72.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.89. Tenaris had a net margin of 26.35% and a return on equity of 24.33%. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.08 billion. On average, analysts predict that Tenaris S.A. will post 4.06 earnings per share for the current year.

Tenaris Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 21st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s payout ratio is currently 24.10%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley lowered shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a report on Thursday, April 18th. Jefferies Financial Group lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Bank of America assumed coverage on shares of Tenaris in a report on Tuesday, January 16th. They set a “neutral” rating on the stock.

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.