Atria Wealth Solutions Inc. Invests $904,000 in Tenaris S.A. (NYSE:TS)

Jul 09, 2023

Atria Wealth Solutions Inc. bought a new position in Tenaris S.A. (NYSE:TS - Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 25,704 shares of the industrial products company's stock, valued at approximately $904,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new position in Tenaris during the 4th quarter valued at $28,000. Captrust Financial Advisors boosted its holdings in Tenaris by 155.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 676 shares during the period. Belpointe Asset Management LLC purchased a new position in Tenaris during the 4th quarter valued at $38,000. IFP Advisors Inc boosted its holdings in Tenaris by 345.2% during the 3rd quarter. IFP Advisors Inc now owns 926 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 718 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in Tenaris during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 12.15% of the company's stock.

TS has been the subject of a number of research analyst reports. Morgan Stanley decreased their target price on Tenaris from $44.00 to $40.00 in a research report on Tuesday, April 18th. Piper Sandler decreased their target price on Tenaris from $49.00 to $44.00 in a research report on Monday, May 1st. StockNews.com lowered Tenaris from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 2nd. Finally, Cowen lifted their target price on Tenaris from $45.00 to $49.00 in a research report on Friday, February 17th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $44.50.

TS opened at $27.73 on Thursday. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 2.15 and a beta of 1.45. Tenaris S.A. has a 12 month low of $22.24 and a 12 month high of $38.00. The stock has a fifty day moving average price of $27.61 and a 200-day moving average price of $31.36.

The business also recently declared a semi-annual dividend, which was paid on Wednesday, May 24th. Stockholders of record on Tuesday, May 23rd were given a $0.68 dividend. This is a positive change from Tenaris's previous semi-annual dividend of $0.56. The ex-dividend date of this dividend was Monday, May 22nd. Tenaris's payout ratio is presently 12.62%.

Tenaris SA manufactures and supplies steel pipe products. It operates through the Tubes and Other segments. The Tubes segment consists of the production and sale of both seamless and welded steel tubular products and related services mainly for the oil and gas industry, particularly oil country tubular goods used in drilling operations, and for other industrial applications with production processes that consist in the transformation of steel into tubular products.

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