Driehaus Capital Management LLC Takes $33.97 Million Position in Tenaris S.A. (NYSE:TS)
Driehaus Capital Management LLC purchased a new position in Tenaris S.A. (NYSE:TS – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,134,337 shares of the industrial products company’s stock, valued at approximately $33,973,000. Driehaus Capital Management LLC owned 0.19% of Tenaris as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TS. Captrust Financial Advisors boosted its position in Tenaris by 155.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 676 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of Tenaris by 41.7% during the first quarter. Belpointe Asset Management LLC now owns 1,546 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 455 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Tenaris in the third quarter worth $45,000. Point72 Hong Kong Ltd purchased a new stake in Tenaris in the second quarter worth $76,000. Finally, Headlands Technologies LLC raised its holdings in Tenaris by 4,101.4% in the second quarter. Headlands Technologies LLC now owns 2,983 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 2,912 shares in the last quarter. Hedge funds and other institutional investors own 11.58% of the company’s stock.
Analysts Set New Price Targets
TS has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Tenaris from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. StockNews.com cut shares of Tenaris from a “strong-buy” rating to a “buy” rating in a report on Friday, November 3rd.
View Our Latest Stock Analysis on Tenaris
Tenaris Stock Up 0.6 %
Shares of NYSE TS traded up $0.20 during trading on Friday, reaching $34.87. The company had a trading volume of 2,740,012 shares, compared to its average volume of 1,965,318. Tenaris S.A. has a 12-month low of $24.69 and a 12-month high of $38.00. The business’s 50-day moving average is $32.98 and its 200 day moving average is $31.41. The stock has a market cap of $20.58 billion, a PE ratio of 5.73, a P/E/G ratio of 2.97 and a beta of 1.49.
Tenaris (NYSE:TS – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.27). The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.08 billion. Tenaris had a return on equity of 23.42% and a net margin of 23.86%. On average, analysts anticipate that Tenaris S.A. will post 5.74 earnings per share for the current year.
Tenaris Announces Dividend
The company also recently declared an annual dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Tuesday, November 21st were issued a dividend of $0.40 per share. This represents a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, November 20th. Tenaris’s payout ratio is 13.14%.
Tenaris Company Profile (Free Report)
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.
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