Covestor Ltd Purchases Shares of 1,260 Tenaris S.A. (NYSE:TS)

Covestor Ltd purchased a new stake in Tenaris S.A. (NYSE:TS) in the 3rd quarter, Holdings Channel reports. The firm purchased 1,260 shares of the industrial products company’s stock, valued at approximately $40,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tenaris during the 2nd quarter worth about $32,000. Headlands Technologies LLC grew its holdings in shares of Tenaris by 1,486.0% during the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,486 shares during the period. Blue Trust Inc. grew its holdings in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,583 shares during the period. Naples Global Advisors LLC purchased a new stake in shares of Tenaris during the 2nd quarter worth about $233,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Tenaris during the 1st quarter worth about $293,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TS shares. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus decreased their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.67.

Tenaris Stock Up 0.1 %

NYSE TS opened at $37.00 on Friday. The stock has a market cap of $21.51 billion, a PE ratio of 8.13 and a beta of 1.43. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The business has a 50 day moving average price of $31.97 and a two-hundred day moving average price of $31.47.

Tenaris Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th will be given a $0.54 dividend. This represents a dividend yield of 3.6%. The ex-dividend date is Tuesday, November 19th. Tenaris’s payout ratio is 34.86%.

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.