Wilmington Savings Fund Society FSB Invests $67,000 in Tenaris S.A. (NYSE:TS)

Wilmington Savings Fund Society FSB purchased a new stake in Tenaris S.A. (NYSE:TS) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,112 shares of the industrial products company’s stock, valued at approximately $67,000.

Several other institutional investors also recently bought and sold shares of TS. World Investment Advisors LLC purchased a new stake in shares of Tenaris during the third quarter worth $2,200,000. Barclays PLC raised its holdings in Tenaris by 30,000.0% in the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 6,000 shares during the last quarter. Wellington Management Group LLP lifted its stake in Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after purchasing an additional 1,660,300 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Tenaris by 22.7% during the 3rd quarter. Quantinno Capital Management LP now owns 32,015 shares of the industrial products company’s stock worth $1,018,000 after purchasing an additional 5,927 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Tenaris by 102.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock worth $33,397,000 after purchasing an additional 531,860 shares during the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TS has been the subject of several recent research reports. Stifel Nicolaus cut their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler started coverage on shares of Tenaris in a research report on Thursday. They set an “overweight” rating and a $48.00 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tenaris currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Tenaris Stock Performance

NYSE TS opened at $37.19 on Friday. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The firm has a 50 day simple moving average of $35.85 and a 200-day simple moving average of $32.19. The firm has a market cap of $21.62 billion, a price-to-earnings ratio of 8.10 and a beta of 1.46.

Tenaris Cuts Dividend

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

About Tenaris

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.