Raymond James & Associates Raises Position in Tenaris S.A. (NYSE:TS)

Raymond James & Associates grew its position in shares of Tenaris S.A. (NYSE:TS – Get Rating) by 1,828.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,744 shares of the industrial products company’s stock after buying an additional 167,580 shares during the quarter. Raymond James & Associates’ holdings in Tenaris were worth $6,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TS. UBS Group AG increased its holdings in Tenaris by 292.8% in the 4th quarter. UBS Group AG now owns 53,391 shares of the industrial products company’s stock worth $1,877,000 after buying an additional 39,799 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Tenaris during the fourth quarter valued at approximately $38,000. Highland Capital Management LLC boosted its holdings in Tenaris by 1.4% in the fourth quarter. Highland Capital Management LLC now owns 55,909 shares of the industrial products company’s stock worth $1,966,000 after purchasing an additional 750 shares during the last quarter. Capital Insight Partners LLC bought a new stake in Tenaris in the 4th quarter worth approximately $1,577,000. Finally, Fox Run Management L.L.C. raised its stake in Tenaris by 33.3% during the 4th quarter. Fox Run Management L.L.C. now owns 24,716 shares of the industrial products company’s stock valued at $869,000 after buying an additional 6,174 shares during the last quarter. Institutional investors own 12.15% of the company’s stock.

Tenaris Stock Performance

Shares of Tenaris stock opened at $26.83 on Monday. Tenaris S.A. has a fifty-two week low of $22.24 and a fifty-two week high of $38.00. The company has a market capitalization of $15.84 billion, a P/E ratio of 4.98, a P/E/G ratio of 2.12 and a beta of 1.44. The company has a fifty day moving average of $28.33 and a 200 day moving average of $31.99.

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 24th. Investors of record on Tuesday, May 23rd will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Monday, May 22nd. This is a boost from Tenaris’s previous semi-annual dividend of $0.56. Tenaris’s dividend payout ratio (DPR) is currently 12.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TS. Piper Sandler cut their price objective on Tenaris from $49.00 to $44.00 in a report on Monday, May 1st. Morgan Stanley lowered their price objective on shares of Tenaris from $44.00 to $40.00 in a research note on Tuesday, April 18th. Cowen boosted their target price on shares of Tenaris from $45.00 to $49.00 in a research report on Friday, February 17th. Finally, StockNews.com upgraded shares of Tenaris from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 12th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tenaris presently has a consensus rating of “Buy” and a consensus target price of $44.50.

Tenaris Profile

(Get Rating)

Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.