KLP Kapitalforvaltning AS Boosts Holdings in Tenaris S.A. $TS

KLP Kapitalforvaltning AS raised its holdings in Tenaris S.A. (NYSE:TS) by 183.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,000 shares of the industrial products company’s stock after purchasing an additional 55,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Tenaris were worth $3,040,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MGO One Seven LLC lifted its stake in Tenaris by 5.4% in the 2nd quarter. MGO One Seven LLC now owns 5,940 shares of the industrial products company’s stock valued at $222,000 after buying an additional 302 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after acquiring an additional 338 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Tenaris by 48.8% in the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 357 shares in the last quarter. Baron Wealth Management LLC boosted its stake in shares of Tenaris by 7.0% during the second quarter. Baron Wealth Management LLC now owns 5,852 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 384 shares during the last quarter. Finally, Profund Advisors LLC increased its position in Tenaris by 3.6% during the 2nd quarter. Profund Advisors LLC now owns 12,687 shares of the industrial products company’s stock worth $474,000 after purchasing an additional 437 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Down 1.4%

NYSE:TS opened at $40.00 on Friday. The company has a market cap of $23.25 billion, a P/E ratio of 10.75 and a beta of 0.96. The firm’s 50 day moving average is $39.89 and its two-hundred day moving average is $37.55. Tenaris S.A. has a fifty-two week low of $30.06 and a fifty-two week high of $41.76.

Tenaris (NYSE:TS) last released its quarterly earnings data on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.85 billion. Tenaris had a return on equity of 11.72% and a net margin of 16.91%.The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. Research analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 25th were paid a $0.58 dividend. This represents a dividend yield of 291.0%. The ex-dividend date of this dividend was Tuesday, November 25th. Tenaris’s payout ratio is currently 31.18%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Cowen reaffirmed a “buy” rating on shares of Tenaris in a research note on Wednesday. BNP Paribas Exane restated a “neutral” rating on shares of Tenaris in a research report on Friday, October 10th. Wall Street Zen downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler reissued a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group began coverage on Tenaris in a report on Monday, December 15th. They set a “neutral” rating and a $43.60 price objective on the stock. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.32.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.