HighTower Advisors LLC Has $1.99 Million Stake in Tenaris S.A. (NYSE:TS)

HighTower Advisors LLC grew its stake in Tenaris S.A. (NYSE:TS – Get Rating) by 632.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,731 shares of the industrial products company’s stock after buying an additional 48,985 shares during the period. HighTower Advisors LLC’s holdings in Tenaris were worth $1,994,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its position in Tenaris by 1.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 37,342 shares of the industrial products company’s stock worth $965,000 after buying an additional 531 shares during the period. Wetherby Asset Management Inc. raised its stake in Tenaris by 3.3% during the 1st quarter. Wetherby Asset Management Inc. now owns 17,634 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 557 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Tenaris by 155.8% in the 2nd quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 676 shares during the period. IFP Advisors Inc grew its position in Tenaris by 345.2% in the 3rd quarter. IFP Advisors Inc now owns 926 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 718 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in shares of Tenaris by 3.4% during the 1st quarter. Evergreen Capital Management LLC now owns 22,410 shares of the industrial products company’s stock worth $674,000 after purchasing an additional 733 shares during the period. Institutional investors and hedge funds own 12.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TS. Morgan Stanley reduced their target price on shares of Tenaris from $44.00 to $40.00 in a research note on Tuesday, April 18th. Piper Sandler reduced their price objective on Tenaris from $49.00 to $44.00 in a research report on Monday, May 1st. Cowen boosted their price objective on Tenaris from $45.00 to $49.00 in a research report on Friday, February 17th. Finally, StockNews.com cut Tenaris from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Tenaris presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Tenaris Price Performance

Shares of TS stock opened at $26.36 on Thursday. The stock’s fifty day simple moving average is $28.10 and its 200 day simple moving average is $31.86. Tenaris S.A. has a one year low of $22.24 and a one year high of $38.00. The firm has a market cap of $15.56 billion, a price-to-earnings ratio of 4.89, a P/E/G ratio of 2.10 and a beta of 1.44.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, May 24th. Stockholders of record on Tuesday, May 23rd were paid a $0.68 dividend. The ex-dividend date was Monday, May 22nd. This is an increase from Tenaris’s previous semi-annual dividend of $0.56. Tenaris’s payout ratio is currently 12.62%.

Tenaris Profile

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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.