Navellier & Associates Inc. Boosts Stake in Tenaris S.A. (NYSE:TS)

Navellier & Associates Inc. grew its stake in Tenaris S.A. (NYSE:TSGet Rating) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,729 shares of the industrial products company’s stock after buying an additional 854 shares during the period. Navellier & Associates Inc.’s holdings in Tenaris were worth $1,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TS. CWM LLC raised its holdings in shares of Tenaris by 113.4% in the second quarter. CWM LLC now owns 1,033 shares of the industrial products company’s stock worth $27,000 after buying an additional 549 shares during the last quarter. Tcwp LLC purchased a new position in shares of Tenaris during the first quarter worth $36,000. Royal Bank of Canada raised its holdings in shares of Tenaris by 149.1% during the first quarter. Royal Bank of Canada now owns 3,470 shares of the industrial products company’s stock worth $104,000 after purchasing an additional 2,077 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Tenaris by 65.9% during the first quarter. Citigroup Inc. now owns 5,236 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 2,080 shares during the last quarter. Finally, West Family Investments Inc. purchased a new position in shares of Tenaris during the first quarter worth $228,000. Hedge funds and other institutional investors own 12.28% of the company’s stock.

Analyst Ratings Changes

TS has been the subject of several recent research reports. StockNews.com cut shares of Tenaris from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 16th. Piper Sandler raised their target price on shares of Tenaris from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, November 18th. Stifel Nicolaus upgraded shares of Tenaris from a “hold” rating to a “buy” rating and raised their price target for the company from $30.00 to $38.00 in a research report on Thursday, October 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Tenaris from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, November 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Tenaris presently has an average rating of “Moderate Buy” and an average target price of $33.38.

Tenaris Stock Down 1.0 %

Shares of NYSE TS traded down $0.36 during trading on Thursday, hitting $34.02. The company had a trading volume of 2,418,971 shares, compared to its average volume of 2,184,656. The stock has a fifty day simple moving average of $29.65 and a two-hundred day simple moving average of $28.74. Tenaris S.A. has a fifty-two week low of $19.40 and a fifty-two week high of $35.05. The firm has a market capitalization of $20.08 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 0.30 and a beta of 1.51.

Tenaris Increases Dividend

The business also recently announced a dividend, which was paid on Wednesday, November 23rd. Stockholders of record on Tuesday, November 22nd were given a $0.34 dividend. This is a positive change from Tenaris’s previous dividend of $0.26. The ex-dividend date was Monday, November 21st. Tenaris’s dividend payout ratio (DPR) is 18.94%.

About Tenaris

(Get Rating)

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.

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Institutional Ownership by Quarter for Tenaris (NYSE:TS)

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