Cerity Partners LLC Buys 5,502 Shares of Tenaris S.A. (NYSE:TS)

Cerity Partners LLC lifted its stake in shares of Tenaris S.A. (NYSE:TS) by 28.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,967 shares of the industrial products company’s stock after purchasing an additional 5,502 shares during the quarter. Cerity Partners LLC’s holdings in Tenaris were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Tenaris by 36.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 377 shares during the period. Evergreen Capital Management LLC lifted its position in shares of Tenaris by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after buying an additional 710 shares during the last quarter. Signaturefd LLC grew its stake in shares of Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 732 shares during the period. Covestor Ltd purchased a new stake in shares of Tenaris during the 3rd quarter valued at approximately $40,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Tenaris by 9.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company’s stock worth $455,000 after buying an additional 1,271 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Tenaris Stock Up 1.6 %

TS opened at $39.05 on Friday. The stock has a market cap of $22.70 billion, a PE ratio of 8.51 and a beta of 1.46. The business has a 50 day moving average of $34.55 and a 200-day moving average of $31.85. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72.

Tenaris Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris’s payout ratio is 23.53%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TS shares. Stifel Nicolaus reduced 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. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Tenaris currently has an average rating of “Hold” and a consensus target price of $38.67.

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.