Tenaris SA (TS) Position Boosted by Harding Loevner LP
Harding Loevner LP raised its position in shares of Tenaris SA (NYSE:TS) by 3.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,270,498 shares of the company’s stock after buying an additional 549,649 shares during the period. Tenaris SA comprises 3.1% of Harding Loevner LP’s holdings, making the stock its 7th largest position. Harding Loevner LP owned approximately 2.59% of Tenaris SA worth $433,683,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in TS. Ameriprise Financial Inc. boosted its position in shares of Tenaris SA by 1.2% in the second quarter. Ameriprise Financial Inc. now owns 23,307 shares of the company’s stock worth $672,000 after buying an additional 281 shares during the period. Independent Portfolio Consultants Inc. boosted its position in shares of Tenaris SA by 5.2% in the third quarter. Independent Portfolio Consultants Inc. now owns 5,945 shares of the company’s stock worth $169,000 after buying an additional 295 shares during the period. I.G. Investment Management LTD. boosted its position in shares of Tenaris SA by 0.6% in the second quarter. I.G. Investment Management LTD. now owns 140,214 shares of the company’s stock worth $4,044,000 after buying an additional 900 shares during the period. Highland Capital Management LLC boosted its position in shares of Tenaris SA by 4.0% in the second quarter. Highland Capital Management LLC now owns 46,409 shares of the company’s stock worth $1,338,000 after buying an additional 1,800 shares during the period. Finally, World Asset Management Inc raised its stake in Tenaris SA by 8.3% in the second quarter. World Asset Management Inc now owns 36,533 shares of the company’s stock worth $1,054,000 after buying an additional 2,804 shares in the last quarter. 16.57% of the stock is currently owned by hedge funds and other institutional investors.
Tenaris SA (NYSE:TS) traded down 1.42% during mid-day trading on Friday, reaching $30.60. 2,081,150 shares of the company’s stock traded hands. Tenaris SA has a 12 month low of $18.53 and a 12 month high of $31.98. The stock’s market capitalization is $18.06 billion. The firm’s 50-day moving average price is $29.21 and its 200 day moving average price is $27.75.
Tenaris SA (NYSE:TS) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.05. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Tenaris SA had a negative return on equity of 0.21% and a negative net margin of 0.52%. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.30) earnings per share. Equities research analysts predict that Tenaris SA will post $0.04 EPS for the current year.
The company also recently declared a dividend, which will be paid on Wednesday, November 23rd. Investors of record on Tuesday, November 22nd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 21st. Tenaris SA’s dividend payout ratio is -2,250.00%.
TS has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Tenaris SA from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Berenberg Bank initiated coverage on shares of Tenaris SA in a research note on Tuesday, October 11th. They set a “hold” rating on the stock. Piper Jaffray Cos. upgraded shares of Tenaris SA from a “neutral” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research note on Tuesday, October 18th. Simmons upgraded shares of Tenaris SA from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 18th. Finally, Morgan Stanley upgraded shares of Tenaris SA from an “equal weight” rating to an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Tenaris SA presently has an average rating of “Hold” and an average price target of $29.86.
About Tenaris SA
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods used in drilling operations, and for other industrial applications with production processes.
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