World Investment Advisors LLC Invests $2.20 Million in Tenaris S.A. (NYSE:TS)

World Investment Advisors LLC acquired a new position in shares of Tenaris S.A. (NYSE:TS - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 69,207 shares of the industrial products company's stock, valued at approximately $2,200,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company's stock worth $111,381,000 after buying an additional 614,884 shares during the last quarter. Van ECK Associates Corp increased its stake in Tenaris by 10.9% in the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company's stock valued at $97,154,000 after purchasing an additional 313,185 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company's stock worth $79,109,000 after purchasing an additional 819,500 shares during the period. Wellington Management Group LLP boosted its position in shares of Tenaris by 187.4% during the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company's stock worth $80,943,000 after purchasing an additional 1,660,300 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Tenaris by 102.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company's stock valued at $33,397,000 after buying an additional 531,860 shares during the period. Institutional investors and hedge funds own 10.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TS. Stifel Nicolaus cut their price target 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. Jefferies Financial Group raised shares of Tenaris from a "hold" rating to a "buy" rating and upped their target price for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, StockNews.com upgraded Tenaris from a "hold" rating to a "buy" rating in a report on Wednesday, November 27th. 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $40.75.

Tenaris Stock Performance

NYSE:TS traded up $0.06 during mid-day trading on Friday, reaching $38.58. 1,076,971 shares of the company's stock were exchanged, compared to its average volume of 1,269,281. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The business's fifty day simple moving average is $35.31 and its two-hundred day simple moving average is $32.02. The firm has a market capitalization of $22.43 billion, a PE ratio of 8.41 and a beta of 1.46.

Tenaris Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were issued a $0.54 dividend. This represents a yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris's dividend payout ratio is currently 23.53%.

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.