Wellington Management Group LLP Has $80.94 Million Stock Holdings in Tenaris S.A. (NYSE:TS)

Wellington Management Group LLP increased its position in shares of Tenaris S.A. (NYSE:TS) by 187.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,546,184 shares of the industrial products company’s stock after buying an additional 1,660,300 shares during the quarter. Wellington Management Group LLP owned 0.44% of Tenaris worth $80,943,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TS. Allspring Global Investments Holdings LLC acquired a new stake in Tenaris during the second quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Tenaris during the third quarter worth about $33,000. Covestor Ltd bought a new position in Tenaris during the third quarter worth about $40,000. Blue Trust Inc. lifted its stake in Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,583 shares during the period. Finally, West Family Investments Inc. bought a new position in Tenaris during the third quarter worth about $200,000. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Trading Down 0.8 %

NYSE:TS opened at $38.49 on Wednesday. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72. The firm has a 50 day moving average of $34.81 and a 200-day moving average of $31.88. The stock has a market capitalization of $22.38 billion, a P/E ratio of 8.39 and a beta of 1.46.

Tenaris Cuts Dividend

The company 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 of this dividend was Tuesday, November 19th. Tenaris’s dividend payout ratio (DPR) is currently 23.53%.

Analysts Set New Price Targets

A number of brokerages have commented on TS. Stifel Nicolaus cut their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and raised their price target for the stock from $35.00 to $47.00 in a research note on Monday. Finally, StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.75.

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.