Viking Fund Management LLC Sells 35,000 Shares of Tenaris S.A. (NYSE:TS)

Viking Fund Management LLC lowered its holdings in shares of Tenaris S.A. (NYSE:TS) by 36.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,000 shares of the industrial products company’s stock after selling 35,000 shares during the period. Viking Fund Management LLC’s holdings in Tenaris were worth $2,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TS. Allspring Global Investments Holdings LLC raised its position in shares of Tenaris by 36.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 377 shares during the last quarter. Ballentine Partners LLC raised its holdings in Tenaris by 6.1% in the fourth quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company’s stock worth $337,000 after buying an additional 516 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Tenaris by 3.7% during the second quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after buying an additional 710 shares during the last quarter. Finally, Versant Capital Management Inc bought a new stake in shares of Tenaris during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TS. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Piper Sandler assumed coverage on Tenaris in a research report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 target price for the company. Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Stifel Nicolaus reduced their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.75.

Tenaris Price Performance

Shares of TS stock opened at $39.20 on Wednesday. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 8.54 and a beta of 1.45. The firm has a fifty day moving average price of $37.99 and a 200-day moving average price of $33.25. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris’s dividend payout ratio (DPR) is presently 23.53%.

Tenaris 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.