Massachusetts Financial Services Co. MA Has $16.49 Million Position in Tenaris S.A. (NYSE:TS)

Massachusetts Financial Services Co. MA cut its position in shares of Tenaris S.A. (NYSE:TS) by 11.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 518,818 shares of the industrial products company’s stock after selling 66,352 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.09% of Tenaris worth $16,493,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Tenaris by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock valued at $70,009,000 after buying an additional 56,935 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in Tenaris by 120.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 88,691 shares of the industrial products company’s stock worth $3,483,000 after acquiring an additional 48,482 shares in the last quarter. Boston Partners acquired a new position in Tenaris during the first quarter valued at approximately $1,662,000. Manning & Napier Advisors LLC bought a new position in Tenaris in the second quarter valued at approximately $1,518,000. Finally, QRG Capital Management Inc. increased its position in shares of Tenaris by 7.3% during the 2nd quarter. QRG Capital Management Inc. now owns 31,200 shares of the industrial products company’s stock worth $952,000 after purchasing an additional 2,120 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TS. Stifel Nicolaus cut 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. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Tenaris presently has an average rating of “Hold” and a consensus price target of $38.67.

Tenaris Trading Up 0.7 %

TS opened at $37.67 on Tuesday. The stock’s fifty day simple moving average is $33.20 and its 200 day simple moving average is $31.61. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72. The stock has a market cap of $21.90 billion, a PE ratio of 8.21 and a beta of 1.43.

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 $0.54 dividend. This represents a dividend yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris’s payout ratio is presently 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.