Wellington Management Group LLP Buys 1,660,300 Shares of Tenaris S.A. (NYSE:TS)

Wellington Management Group LLP increased its stake in Tenaris S.A. (NYSE:TS) by 187.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,546,184 shares of the industrial products company’s stock after acquiring an additional 1,660,300 shares during the period. Wellington Management Group LLP’s holdings in Tenaris were worth $80,943,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in Tenaris by 36.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 377 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in Tenaris by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock worth $608,000 after acquiring an additional 710 shares during the period. Signaturefd LLC grew its holdings in Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 732 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris during the 3rd quarter worth $33,000. Finally, Covestor Ltd acquired a new stake in Tenaris during the 3rd quarter worth $40,000. Institutional investors own 10.45% of the company’s stock.

Analyst Ratings Changes

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

Tenaris Stock Down 0.8 %

Shares of TS stock opened at $38.49 on Wednesday. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 8.39 and a beta of 1.46. Tenaris S.A. has a 12-month low of $27.24 and a 12-month high of $40.72. The firm has a fifty day moving average of $34.81 and a 200-day moving average of $31.88.

Tenaris Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th were given a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a yield of 3.6%. Tenaris’s dividend payout ratio is currently 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.