Tenaris S.A. (NYSE:TS) Shares Bought by Cadence Wealth Management LLC

Cadence Wealth Management LLC lifted its position in Tenaris S.A. (NYSE:TS) by 26.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,566 shares of the industrial products company’s stock after acquiring an additional 3,699 shares during the period. Tenaris accounts for approximately 0.5% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Cadence Wealth Management LLC’s holdings in Tenaris were worth $558,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tenaris in the second quarter worth about $32,000. Covestor Ltd purchased a new position in Tenaris in the third quarter valued at $40,000. Headlands Technologies LLC increased its stake in shares of Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,486 shares in the last quarter. Blue Trust Inc. raised its stake in Tenaris by 79.0% in the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,583 shares during the last quarter. Finally, Naples Global Advisors LLC purchased a new position in Tenaris in the 2nd quarter worth approximately $233,000. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Trading Up 0.5 %

TS stock opened at $36.96 on Friday. Tenaris S.A. has a 52 week low of $27.24 and a 52 week high of $40.72. The company has a market capitalization of $21.49 billion, a price-to-earnings ratio of 8.05 and a beta of 1.43. The firm’s 50-day moving average is $31.80 and its two-hundred day moving average is $31.44.

Tenaris Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.54 per share. This represents a dividend yield of 3.6%. The ex-dividend date is Tuesday, November 19th. Tenaris’s dividend payout ratio is currently 34.86%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TS. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Stifel Nicolaus dropped their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One investment 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.