Versant Capital Management Inc Purchases New Stake in Tenaris S.A. (NYSE:TS)

Versant Capital Management Inc acquired a new position in shares of Tenaris S.A. (NYSE:TS) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 734 shares of the industrial products company’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TS. Wellington Management Group LLP boosted its holdings in Tenaris by 187.4% in the third 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 during the period. Renaissance Technologies LLC lifted its position in shares of Tenaris by 46.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after buying an additional 819,500 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Tenaris in the 3rd quarter valued at about $21,454,000. FMR LLC grew its position in shares of Tenaris by 21.3% during the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after buying an additional 614,884 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in Tenaris during the third quarter worth about $17,129,000. Institutional investors own 10.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TS has been the subject of several recent research reports. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. 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 report on Friday, October 11th. Finally, Piper Sandler assumed coverage on shares of Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.75.

Tenaris Stock Performance

NYSE:TS opened at $38.37 on Wednesday. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 8.36 and a beta of 1.45. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72. The business has a fifty day moving average of $37.28 and a 200-day moving average of $32.73.

Tenaris Cuts Dividend

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