Wilmington Savings Fund Society FSB Buys New Holdings in Tenaris S.A. (NYSE:TS)

Wilmington Savings Fund Society FSB purchased a new position in Tenaris S.A. (NYSE:TS) in the third quarter, Holdings Channel reports. The fund purchased 2,112 shares of the industrial products company’s stock, valued at approximately $67,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tenaris during the 2nd quarter worth $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris in the third quarter valued at $33,000. Covestor Ltd purchased a new stake in Tenaris during the 3rd quarter worth about $40,000. Barclays PLC boosted its position in shares of Tenaris by 30,000.0% during the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 6,000 shares in the last quarter. Finally, West Family Investments Inc. purchased a new position in shares of Tenaris in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Stock Performance

NYSE TS opened at $37.19 on Friday. The firm’s fifty day moving average is $35.85 and its two-hundred day moving average is $32.19. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The firm has a market cap of $21.62 billion, a PE ratio of 8.10 and a beta of 1.46.

Tenaris Cuts Dividend

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Piper Sandler initiated coverage on shares of Tenaris in a research report on Thursday. They issued an “overweight” rating and a $48.00 price target for the company. Stifel Nicolaus dropped their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Tenaris has an average rating of “Moderate Buy” and a consensus price target 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.