Raymond James & Associates Increases Position in Tenaris S.A. (NYSE:TS)

Raymond James & Associates raised its position in shares of Tenaris S.A. (NYSE:TS – Get Rating) by 1,828.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 176,744 shares of the industrial products company’s stock after buying an additional 167,580 shares during the quarter. Raymond James & Associates’ holdings in Tenaris were worth $6,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TS. Price T Rowe Associates Inc. MD lifted its stake in shares of Tenaris by 2,895.9% during the third quarter. Price T Rowe Associates Inc. MD now owns 1,842,507 shares of the industrial products company’s stock worth $47,612,000 after buying an additional 1,781,007 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Tenaris by 3,518.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,523,751 shares of the industrial products company’s stock valued at $45,819,000 after purchasing an additional 1,481,638 shares during the period. BlackRock Inc. raised its stake in shares of Tenaris by 102.1% in the third quarter. BlackRock Inc. now owns 1,233,032 shares of the industrial products company’s stock worth $31,863,000 after purchasing an additional 622,827 shares during the last quarter. Encompass Capital Advisors LLC lifted its holdings in shares of Tenaris by 0.3% during the third quarter. Encompass Capital Advisors LLC now owns 698,681 shares of the industrial products company’s stock worth $18,054,000 after purchasing an additional 1,944 shares during the period. Finally, Lazard Asset Management LLC boosted its position in Tenaris by 6.2% in the third quarter. Lazard Asset Management LLC now owns 522,961 shares of the industrial products company’s stock valued at $13,512,000 after buying an additional 30,491 shares during the last quarter. Hedge funds and other institutional investors own 12.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TS. StockNews.com upgraded shares of Tenaris from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 12th. Morgan Stanley decreased their target price on shares of Tenaris from $44.00 to $40.00 in a research report on Tuesday, April 18th. Piper Sandler cut their price target on Tenaris from $49.00 to $44.00 in a research report on Monday, May 1st. Finally, Cowen lifted their price objective on Tenaris from $45.00 to $49.00 in a research note on Friday, February 17th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $44.50.

Tenaris Stock Performance

Shares of Tenaris stock opened at $26.83 on Monday. The firm has a 50-day simple moving average of $28.33 and a two-hundred day simple moving average of $31.99. Tenaris S.A. has a fifty-two week low of $22.24 and a fifty-two week high of $38.00. The company has a market cap of $15.84 billion, a P/E ratio of 4.98, a price-to-earnings-growth ratio of 2.12 and a beta of 1.44.

Tenaris Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 24th. Investors of record on Tuesday, May 23rd will be issued a $0.68 dividend. This is a boost from Tenaris’s previous semi-annual dividend of $0.56. The ex-dividend date is Monday, May 22nd. Tenaris’s dividend payout ratio is presently 12.62%.

About Tenaris

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Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.