Manning & Napier Advisors LLC Has $1.81 Million Holdings in Tenaris S.A. (NYSE:TS)

Manning & Napier Advisors LLC lessened its position in Tenaris S.A. (NYSE:TS) by 4.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 47,812 shares of the industrial products company’s stock after selling 2,057 shares during the period. Manning & Napier Advisors LLC’s holdings in Tenaris were worth $1,807,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in shares of Tenaris during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC boosted its position 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tenaris during the third quarter valued at approximately $33,000. Covestor Ltd purchased a new position in shares of Tenaris during the third quarter valued at approximately $40,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Tenaris by 36.1% during 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 buying an additional 377 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Price Performance

Shares of TS opened at $38.14 on Friday. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72. The stock’s fifty day moving average price is $38.21 and its two-hundred day moving average price is $33.61. The firm has a market cap of $22.17 billion, a PE ratio of 8.31 and a beta of 1.45.

Tenaris Cuts Dividend

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

Analyst Ratings Changes

TS has been the topic of several analyst reports. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and lifted their target price for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Piper Sandler assumed coverage on Tenaris in a research report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective on the stock. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday. Finally, StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.75.

Tenaris Company 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.