HighTower Advisors LLC Has $1.99 Million Stake in Tenaris S.A. (NYSE:TS)

HighTower Advisors LLC increased its stake in Tenaris S.A. (NYSE:TS – Get Rating) by 632.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 56,731 shares of the industrial products company’s stock after purchasing an additional 48,985 shares during the quarter. HighTower Advisors LLC’s holdings in Tenaris were worth $1,994,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC grew its position in Tenaris by 5.9% in the fourth quarter. Signaturefd LLC now owns 14,905 shares of the industrial products company’s stock valued at $524,000 after purchasing an additional 828 shares in the last quarter. Gallacher Capital Management LLC bought a new stake in Tenaris during the fourth quarter worth about $281,000. Financial Management Professionals Inc. acquired a new position in Tenaris during the fourth quarter valued at approximately $28,000. Navellier & Associates Inc. increased its position in shares of Tenaris by 1.2% during the 4th quarter. Navellier & Associates Inc. now owns 61,540 shares of the industrial products company’s stock worth $2,164,000 after purchasing an additional 740 shares during the last quarter. Finally, Chase Investment Counsel Corp bought a new stake in shares of Tenaris during the 4th quarter worth approximately $1,953,000. Institutional investors own 12.15% of the company’s stock.

Tenaris Stock Performance

Shares of TS opened at $26.36 on Thursday. The firm has a market cap of $15.56 billion, a P/E ratio of 4.89, a price-to-earnings-growth ratio of 2.10 and a beta of 1.44. The firm’s 50-day simple moving average is $28.10 and its 200 day simple moving average is $31.86. Tenaris S.A. has a 52 week low of $22.24 and a 52 week high of $38.00.

Tenaris Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, May 24th. Shareholders of record on Tuesday, May 23rd were given a $0.68 dividend. The ex-dividend date of this dividend was Monday, May 22nd. This is a positive change from Tenaris’s previous semi-annual dividend of $0.56. Tenaris’s payout ratio is 12.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TS shares. Morgan Stanley decreased their target price on shares of Tenaris from $44.00 to $40.00 in a research note on Tuesday, April 18th. Piper Sandler lowered their price objective on shares of Tenaris from $49.00 to $44.00 in a research note on Monday, May 1st. StockNews.com downgraded shares of Tenaris from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Cowen boosted their price target on Tenaris from $45.00 to $49.00 in a research report on Friday, February 17th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.50.

Tenaris Profile

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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.