Tenaris S.A. (NYSE:TS) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in shares of Tenaris S.A. (NYSE:TS) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,596 shares of the industrial products company’s stock after selling 1,091 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tenaris were worth $591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. West Family Investments Inc. acquired a new position in Tenaris in the 3rd quarter worth approximately $200,000. Cadence Wealth Management LLC increased its holdings in Tenaris by 26.7% in the 3rd quarter. Cadence Wealth Management LLC now owns 17,566 shares of the industrial products company’s stock worth $558,000 after buying an additional 3,699 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Tenaris by 21.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 21,737 shares of the industrial products company’s stock worth $691,000 after buying an additional 3,845 shares during the period. Covestor Ltd acquired a new position in Tenaris in the 3rd quarter worth approximately $40,000. Finally, Assetmark Inc. increased its holdings in Tenaris by 0.9% in the 3rd quarter. Assetmark Inc. now owns 439,553 shares of the industrial products company’s stock worth $13,973,000 after buying an additional 4,053 shares during the period. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TS shares. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $38.67.

Tenaris Price Performance

Shares of NYSE TS opened at $38.09 on Thursday. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 8.30 and a beta of 1.43. Tenaris S.A. has a 12 month low of $27.24 and a 12 month high of $40.72. The firm’s 50 day simple moving average is $33.54 and its 200-day simple moving average is $31.68.

Tenaris Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris’s dividend payout ratio (DPR) is 23.53%.

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.