Van ECK Associates Corp Sells 1,006,091 Shares of Tenaris S.A. (NYSE:TS)

Van ECK Associates Corp cut its stake in shares of Tenaris S.A. (NYSE:TS) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,273,569 shares of the industrial products company’s stock after selling 1,006,091 shares during the period. Van ECK Associates Corp’s holdings in Tenaris were worth $113,790,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Greenleaf Trust bought a new position in Tenaris during the 4th quarter worth $210,000. Ballentine Partners LLC boosted its stake in Tenaris by 8.0% in the fourth quarter. Ballentine Partners LLC now owns 8,089 shares of the industrial products company’s stock valued at $281,000 after buying an additional 600 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Tenaris by 19.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 9,946 shares of the industrial products company’s stock worth $314,000 after buying an additional 1,643 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Tenaris during the third quarter valued at about $333,000. Finally, Advisor Partners II LLC grew its holdings in Tenaris by 25.6% during the 3rd quarter. Advisor Partners II LLC now owns 10,662 shares of the industrial products company’s stock worth $337,000 after acquiring an additional 2,171 shares during the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Trading Down 1.4 %

Shares of NYSE:TS traded down $0.48 during trading on Tuesday, reaching $33.60. The company had a trading volume of 456,867 shares, compared to its average volume of 2,063,264. The stock has a market capitalization of $19.83 billion, a P/E ratio of 5.68, a price-to-earnings-growth ratio of 2.16 and a beta of 1.47. The company has a fifty day moving average of $37.81 and a two-hundred day moving average of $34.89. Tenaris S.A. has a 12 month low of $24.69 and a 12 month high of $40.72.

Tenaris (NYSE:TS) last posted its earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.89. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.08 billion. Tenaris had a net margin of 24.89% and a return on equity of 21.50%. As a group, equities research analysts predict that Tenaris S.A. will post 4.06 earnings per share for the current 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 given a dividend of $0.80 per share. The ex-dividend date is Monday, May 20th. This is an increase from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s dividend payout ratio (DPR) is 13.33%.

Analyst Upgrades and Downgrades

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