Integrated Investment Consultants LLC Buys Shares of 11,475 Tenaris S.A. (NYSE:TS)

Integrated Investment Consultants LLC purchased a new position in shares of Tenaris S.A. (NYSE:TS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 11,475 shares of the industrial products company’s stock, valued at approximately $365,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new position in Tenaris in the second quarter valued at $32,000. Covestor Ltd acquired a new position in shares of Tenaris during the 3rd quarter valued at about $40,000. Blue Trust Inc. increased its stake in shares of Tenaris by 79.0% during the 2nd 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 position in shares of Tenaris during the 3rd quarter worth about $200,000. Finally, Naples Global Advisors LLC acquired a new stake in shares of Tenaris in the second quarter worth approximately $233,000. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Stock Performance

NYSE TS opened at $37.42 on Friday. The firm has a market capitalization of $21.76 billion, a price-to-earnings ratio of 8.15 and a beta of 1.43. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The company’s 50 day moving average price is $33.02 and its 200 day moving average price is $31.62.

Tenaris Cuts Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TS shares. StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus cut their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $38.67.

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.