Cornerstone Wealth Management LLC Grows Stake in Tenaris S.A. (NYSE:TS)

Cornerstone Wealth Management LLC boosted its stake in Tenaris S.A. (NYSE:TS) by 9.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,189 shares of the industrial products company’s stock after buying an additional 1,869 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Tenaris were worth $801,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TS. Crossmark Global Holdings Inc. lifted its position in shares of Tenaris by 61.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after acquiring an additional 13,374 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Tenaris by 6.1% in the 4th quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company’s stock valued at $337,000 after purchasing an additional 516 shares in the last quarter. J2 Capital Management Inc acquired a new stake in Tenaris during the 4th quarter worth $513,000. GAMMA Investing LLC grew its holdings in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new stake in shares of Tenaris in the fourth quarter valued at about $28,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on TS shares. Piper Sandler assumed coverage on shares of Tenaris in a research note on Thursday, December 19th. They set an “overweight” rating and a $48.00 price objective for the company. Stifel Nicolaus dropped 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. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Finally, Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.75.

Tenaris Stock Performance

TS stock opened at $38.57 on Friday. The firm has a market cap of $22.42 billion, a PE ratio of 8.40 and a beta of 1.45. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The firm’s 50 day moving average price is $38.14 and its 200-day moving average price is $33.44.

Tenaris Cuts Dividend

The firm also recently declared 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 (DPR) is presently 23.53%.

About Tenaris

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.