Blue Trust Inc. Sells 542 Shares of Tenaris S.A. (NYSE:TS)

Blue Trust Inc. trimmed its position in shares of Tenaris S.A. (NYSE:TS) by 7.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,486 shares of the industrial products company’s stock after selling 542 shares during the quarter. Blue Trust Inc.’s holdings in Tenaris were worth $245,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FMR LLC raised its position in shares of Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after acquiring an additional 614,884 shares during the last quarter. Wellington Management Group LLP increased its position 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. Point72 Asset Management L.P. raised its holdings in 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. Holocene Advisors LP acquired a new position in Tenaris during the 3rd quarter valued at about $21,454,000. Finally, Mediolanum International Funds Ltd bought a new position in shares of Tenaris in the 3rd quarter valued at about $17,129,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TS. Bank of America downgraded shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of 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 research report on Monday, December 9th. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus dropped their price objective on 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 Tenaris in a report on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Tenaris has a consensus rating of “Hold” and an average price target of $42.75.

Tenaris Stock Up 0.4 %

TS opened at $37.83 on Tuesday. The stock has a market cap of $21.99 billion, a P/E ratio of 8.24 and a beta of 1.44. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.72. The company has a fifty day simple moving average of $38.23 and a 200 day simple moving average of $33.71.

Tenaris Cuts Dividend

The firm also recently declared 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%.

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.