Cadence Wealth Management LLC Purchases 3,699 Shares of Tenaris S.A. (NYSE:TS)

Cadence Wealth Management LLC lifted its position in Tenaris S.A. (NYSE:TS) by 26.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,566 shares of the industrial products company’s stock after acquiring an additional 3,699 shares during the quarter. Tenaris accounts for 0.5% of Cadence Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Cadence Wealth Management LLC’s holdings in Tenaris were worth $558,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TS. Envestnet Portfolio Solutions Inc. purchased a new position in Tenaris during the 1st quarter valued at $293,000. Sei Investments Co. boosted its stake in shares of Tenaris by 133.2% during the first quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company’s stock valued at $2,501,000 after purchasing an additional 36,380 shares during the period. Headlands Technologies LLC grew its holdings in shares of Tenaris by 1,486.0% in the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,486 shares during the last quarter. US Bancorp DE grew its holdings in shares of Tenaris by 542.1% in the first quarter. US Bancorp DE now owns 86,351 shares of the industrial products company’s stock worth $3,391,000 after purchasing an additional 72,902 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in Tenaris by 20,284.0% in the 1st quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company’s stock worth $21,623,000 after buying an additional 548,276 shares during the period. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Performance

TS stock opened at $36.96 on Friday. The firm has a 50-day simple moving average of $31.80 and a two-hundred day simple moving average of $31.44. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The firm has a market cap of $21.49 billion, a price-to-earnings ratio of 8.05 and a beta of 1.43.

Tenaris Cuts Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th will be issued a $0.54 dividend. This represents a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, November 19th. Tenaris’s dividend payout ratio is currently 34.86%.

Wall Street Analyst Weigh In

TS has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Stifel Nicolaus reduced their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.67.

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.