Crossmark Global Holdings Inc. Acquires 3,845 Shares of Tenaris S.A. (NYSE:TS)

Crossmark Global Holdings Inc. lifted its position in shares of Tenaris S.A. (NYSE:TS) by 21.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,737 shares of the industrial products company’s stock after purchasing an additional 3,845 shares during the period. Crossmark Global Holdings Inc.’s holdings in Tenaris were worth $691,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TS. Allspring Global Investments Holdings LLC purchased a new position in shares of Tenaris during the second quarter worth about $32,000. Covestor Ltd purchased a new stake in Tenaris in the third quarter worth $40,000. Headlands Technologies LLC boosted its stake in shares of Tenaris by 1,486.0% during the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,486 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 1,583 shares during the period. Finally, Naples Global Advisors LLC purchased a new stake in Tenaris in the second quarter worth $233,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TS shares. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus decreased their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.67.

Tenaris Price Performance

Shares of NYSE TS opened at $37.00 on Friday. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72. The company has a market cap of $21.51 billion, a P/E ratio of 8.06 and a beta of 1.43. The firm has a 50-day simple moving average of $31.97 and a two-hundred day simple moving average of $31.47.

Tenaris Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.54 per share. This represents a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, November 19th. Tenaris’s dividend payout ratio (DPR) is 34.86%.

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.