Cerity Partners LLC Buys 5,502 Shares of Tenaris S.A. (NYSE:TS)

Cerity Partners LLC grew its position in shares of Tenaris S.A. (NYSE:TS) by 28.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,967 shares of the industrial products company’s stock after buying an additional 5,502 shares during the quarter. Cerity Partners LLC’s holdings in Tenaris were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Tenaris in the 2nd quarter worth approximately $32,000. Covestor Ltd bought a new stake in shares of Tenaris in the third quarter worth $40,000. Blue Trust Inc. increased its position in Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,583 shares during the last quarter. West Family Investments Inc. purchased a new stake in Tenaris during the third quarter valued at $200,000. Finally, Naples Global Advisors LLC bought a new position in Tenaris in the second quarter valued at about $233,000. Institutional investors own 10.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on TS. Stifel Nicolaus reduced their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tenaris has a consensus rating of “Hold” and a consensus price target of $38.67.

Tenaris Trading Up 1.6 %

Tenaris stock opened at $39.05 on Friday. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.72. The firm has a 50-day moving average price of $34.55 and a 200-day moving average price of $31.85. The firm has a market capitalization of $22.70 billion, a PE ratio of 8.51 and a beta of 1.46.

Tenaris Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were paid 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 23.53%.

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.