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

Cadence Wealth Management LLC increased its stake in shares of Tenaris S.A. (NYSE:TS) by 3.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,149 shares of the industrial products company’s stock after acquiring 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 largest holding. Cadence Wealth Management LLC’s holdings in Tenaris were worth $686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exencial Wealth Advisors LLC increased its position in Tenaris by 0.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company’s stock worth $1,905,000 after buying an additional 270 shares during the last quarter. Signaturefd LLC increased its position in Tenaris by 2.3% during the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company’s stock worth $705,000 after buying an additional 418 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after buying an additional 478 shares during the last quarter. Ballentine Partners LLC increased its position in Tenaris by 6.1% during the fourth quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company’s stock worth $337,000 after buying an additional 516 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in 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 during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Trading Up 0.8 %

Shares of TS stock opened at $38.79 on Tuesday. The stock has a market cap of $22.55 billion, a P/E ratio of 10.74 and a beta of 1.43. The stock has a 50 day simple moving average of $38.19 and a 200 day simple moving average of $35.60. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.73.

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

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio is presently 31.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays boosted their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Piper Sandler upped their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, February 25th. Finally, StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.00.

Tenaris 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.