Cadence Wealth Management LLC Acquires 583 Shares of Tenaris S.A. (NYSE:TS)

Cadence Wealth Management LLC boosted its holdings in shares of Tenaris S.A. (NYSE:TS) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,149 shares of the industrial products company’s stock after purchasing an additional 583 shares during the period. Tenaris comprises approximately 0.5% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest position. Cadence Wealth Management LLC’s holdings in Tenaris were worth $686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its stake in shares of Tenaris by 61.5% in the 4th 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 during the last quarter. GAMMA Investing LLC lifted its stake in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 548 shares during the last quarter. ABC Arbitrage SA bought a new position in shares of Tenaris in the 4th quarter valued at $31,581,000. Proficio Capital Partners LLC bought a new position in shares of Tenaris in the 4th quarter valued at $968,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Tenaris by 291.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 1,284 shares during the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Trading Up 0.8 %

Shares of Tenaris stock opened at $38.79 on Tuesday. The business has a 50-day moving average price of $38.19 and a two-hundred day moving average price of $35.60. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.73. The company has a market cap of $22.55 billion, a P/E ratio of 10.74 and a beta of 1.43.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. Equities research analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio (DPR) is currently 31.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays increased their price target on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Kepler Capital Markets downgraded Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Stifel Nicolaus increased their price objective on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday, February 21st. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Finally, Piper Sandler increased their price objective on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Tenaris presently has a consensus rating of “Hold” and a consensus target price of $46.00.

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.