Holocene Advisors LP Takes Position in Tenaris S.A. (NYSE:TS)

Holocene Advisors LP acquired a new stake in shares of Tenaris S.A. (NYSE:TS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 674,857 shares of the industrial products company’s stock, valued at approximately $21,454,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Tenaris by 36.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 377 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Tenaris by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 710 shares during the period. Signaturefd LLC grew its stake in Tenaris by 4.7% during the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock worth $499,000 after buying an additional 732 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris in the third quarter worth $33,000. Finally, Covestor Ltd bought a new stake in Tenaris in the third quarter valued at $40,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TS. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. 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 report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Tenaris currently has a consensus rating of “Hold” and an average target price of $38.67.

Tenaris Stock Performance

Shares of TS opened at $38.48 on Tuesday. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The stock’s fifty day moving average is $34.07 and its 200-day moving average is $31.72. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 8.38 and a beta of 1.46.

Tenaris Cuts Dividend

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

About Tenaris

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.