Mercer Global Advisors Inc. ADV Purchases New Position in Tenaris S.A. (NYSE:TS)

Mercer Global Advisors Inc. ADV bought a new position in Tenaris S.A. (NYSE:TS – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,440 shares of the industrial products company’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Signaturefd LLC raised its holdings in Tenaris by 5.9% during the 4th quarter. Signaturefd LLC now owns 14,905 shares of the industrial products company’s stock valued at $524,000 after acquiring an additional 828 shares during the period. Gallacher Capital Management LLC bought a new position in shares of Tenaris in the fourth quarter worth $281,000. Financial Management Professionals Inc. bought a new position in shares of Tenaris in the fourth quarter worth $28,000. Navellier & Associates Inc. increased its holdings in shares of Tenaris by 1.2% in the fourth 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 period. Finally, Chase Investment Counsel Corp bought a new position in shares of Tenaris in the fourth quarter worth $1,953,000. Hedge funds and other institutional investors own 12.15% of the company’s stock.

Analysts Set New Price Targets

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

Tenaris Trading Down 2.4 %

Shares of NYSE:TS opened at $25.72 on Friday. The company has a market cap of $15.18 billion, a price-to-earnings ratio of 4.77, a price-to-earnings-growth ratio of 2.08 and a beta of 1.44. The company has a 50-day moving average price of $28.03 and a 200-day moving average price of $31.82. Tenaris S.A. has a 12 month low of $22.24 and a 12 month high of $38.00.

Tenaris Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, May 24th. Stockholders of record on Tuesday, May 23rd were paid a dividend of $0.68 per share. This is an increase from Tenaris’s previous semi-annual dividend of $0.56. The ex-dividend date of this dividend was Monday, May 22nd. Tenaris’s dividend payout ratio is 12.62%.

Tenaris Company 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.