GAMMA Investing LLC Raises Stock Position in Tenaris S.A. (NYSE:TS)

GAMMA Investing LLC lifted its stake in Tenaris S.A. (NYSE:TS) by 140.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 939 shares of the industrial products company’s stock after buying an additional 548 shares during the period. GAMMA Investing LLC’s holdings in Tenaris were worth $35,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after purchasing an additional 1,660,300 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after purchasing an additional 819,500 shares during the period. Holocene Advisors LP bought a new stake in Tenaris during the third quarter valued at $21,454,000. FMR LLC lifted its position in shares of Tenaris by 21.3% in the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after buying an additional 614,884 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new stake in shares of Tenaris during the 3rd quarter valued at about $17,129,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Piper Sandler initiated coverage on Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective for the company. Finally, Stifel Nicolaus reduced their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.75.

Tenaris Price Performance

NYSE TS opened at $39.22 on Wednesday. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.72. The firm has a market capitalization of $22.80 billion, a PE ratio of 8.54 and a beta of 1.45. The company’s 50 day simple moving average is $37.85 and its 200 day simple moving average is $33.03.

Tenaris Cuts Dividend

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