New York State Common Retirement Fund Has $3.81 Million Stock Position in Tenaris S.A. (NYSE:TS)

New York State Common Retirement Fund decreased its position in Tenaris S.A. (NYSE:TS) by 12.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,516 shares of the industrial products company’s stock after selling 15,620 shares during the period. New York State Common Retirement Fund’s holdings in Tenaris were worth $3,807,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Signaturefd LLC increased its stake in Tenaris by 5.2% in the fourth quarter. Signaturefd LLC now owns 15,695 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 782 shares in the last quarter. Greenleaf Trust bought a new stake in shares of Tenaris during the fourth quarter worth about $210,000. Ballentine Partners LLC increased its position in shares of Tenaris by 8.0% during the fourth quarter. Ballentine Partners LLC now owns 8,089 shares of the industrial products company’s stock worth $281,000 after acquiring an additional 600 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Tenaris by 59.6% during the fourth quarter. Pacer Advisors Inc. now owns 525,993 shares of the industrial products company’s stock worth $18,284,000 after acquiring an additional 196,331 shares in the last quarter. Finally, Raymond James & Associates increased its position in shares of Tenaris by 0.6% during the fourth quarter. Raymond James & Associates now owns 142,121 shares of the industrial products company’s stock worth $4,940,000 after acquiring an additional 911 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Performance

Tenaris stock opened at $33.80 on Monday. Tenaris S.A. has a fifty-two week low of $24.69 and a fifty-two week high of $40.72. The stock has a market cap of $19.95 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 2.19 and a beta of 1.51. The firm’s 50-day simple moving average is $37.77 and its 200 day simple moving average is $34.89.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.89. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.08 billion. As a group, analysts predict that Tenaris S.A. will post 3.91 EPS for the current fiscal year.

Tenaris Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 21st will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, May 20th. This is a boost from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s payout ratio is 13.33%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TS. Bank of America began coverage on shares of Tenaris in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. Morgan Stanley downgraded shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 target price for the company. in a research report on Thursday, April 18th.

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.