6,307 Shares in Tenaris S.A. (NYSE:TS) Acquired by West Family Investments Inc.

West Family Investments Inc. purchased a new stake in Tenaris S.A. (NYSE:TS) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,307 shares of the industrial products company’s stock, valued at approximately $200,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TS. Allspring Global Investments Holdings LLC purchased a new position in shares of Tenaris during the second quarter worth about $32,000. Covestor Ltd purchased a new position in shares of Tenaris in the 3rd quarter valued at approximately $40,000. Blue Trust Inc. increased its holdings in shares of Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,583 shares during the period. Naples Global Advisors LLC purchased a new stake in shares of Tenaris during the second quarter worth approximately $233,000. Finally, Greenleaf Trust acquired a new stake in shares of Tenaris during the third quarter worth $304,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TS. Stifel Nicolaus lowered their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.67.

Tenaris Stock Up 0.5 %

TS opened at $37.01 on Thursday. The business’s fifty day simple moving average is $32.66 and its 200 day simple moving average is $31.56. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72. The firm has a market cap of $21.52 billion, a P/E ratio of 8.06 and a beta of 1.43.

Tenaris Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th were paid a $0.54 dividend. The ex-dividend date was Tuesday, November 19th. This represents a yield of 3.6%. Tenaris’s payout ratio is currently 34.86%.

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.