Tenaris S.A. (NYSE:TS) Shares Sold by Blue Trust Inc.

Blue Trust Inc. decreased its holdings in Tenaris S.A. (NYSE:TS) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,486 shares of the industrial products company’s stock after selling 542 shares during the quarter. Blue Trust Inc.’s holdings in Tenaris were worth $245,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc acquired a new stake in shares of Tenaris during the fourth quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris in the third quarter worth $33,000. GAMMA Investing LLC grew its holdings in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after buying an additional 548 shares in the last quarter. Covestor Ltd acquired a new position in Tenaris during the third quarter valued at $40,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Tenaris by 36.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 377 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of NYSE TS opened at $37.83 on Tuesday. The firm has a market cap of $21.99 billion, a price-to-earnings ratio of 8.24 and a beta of 1.44. The business’s 50-day simple moving average is $38.23 and its 200-day simple moving average is $33.71. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72.

Tenaris Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on TS. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Piper Sandler initiated coverage on shares of Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price objective on the stock. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Stifel Nicolaus reduced their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Tenaris has a consensus rating of “Hold” and an average target price of $42.75.

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.