Versant Capital Management Inc Purchases Shares of 734 Tenaris S.A. (NYSE:TS)

Versant Capital Management Inc acquired a new position in shares of Tenaris S.A. (NYSE:TS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 734 shares of the industrial products company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in TS. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tenaris during the 2nd quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tenaris in the third quarter valued at $33,000. Covestor Ltd purchased a new stake in Tenaris during the third quarter valued at about $40,000. Wilmington Savings Fund Society FSB acquired a new stake in Tenaris during the third quarter worth about $67,000. Finally, Barclays PLC raised its holdings in shares of Tenaris by 30,000.0% in the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock worth $192,000 after purchasing an additional 6,000 shares during the period. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Trading Up 0.9 %

Shares of TS stock opened at $38.37 on Wednesday. The firm has a fifty day simple moving average of $37.28 and a 200-day simple moving average of $32.73. The company has a market capitalization of $22.31 billion, a PE ratio of 8.36 and a beta of 1.45. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72.

Tenaris Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TS. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Piper Sandler assumed coverage on shares of Tenaris in a research report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective for the company. Stifel Nicolaus reduced their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $47.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tenaris currently has an average rating of “Moderate Buy” and an average price target 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.