BNP Paribas Financial Markets Cuts Holdings in Tenaris S.A. (NYSE:TS)

BNP Paribas Financial Markets lowered its holdings in shares of Tenaris S.A. (NYSE:TS - Free Report) by 83.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,819 shares of the industrial products company's stock after selling 261,638 shares during the period. BNP Paribas Financial Markets' holdings in Tenaris were worth $1,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in Tenaris by 21.3% during the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company's stock worth $111,381,000 after acquiring an additional 614,884 shares during the period. Cerity Partners LLC raised its stake in shares of Tenaris by 28.3% during the third quarter. Cerity Partners LLC now owns 24,967 shares of the industrial products company's stock worth $794,000 after purchasing an additional 5,502 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tenaris by 48.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 23,132 shares of the industrial products company's stock worth $735,000 after purchasing an additional 7,533 shares during the period. Integrated Investment Consultants LLC purchased a new position in Tenaris in the 3rd quarter valued at $365,000. Finally, West Family Investments Inc. acquired a new position in Tenaris in the 3rd quarter valued at $200,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Performance

Tenaris stock traded down $1.28 during midday trading on Friday, reaching $37.77. 1,699,379 shares of the company were exchanged, compared to its average volume of 1,459,563. The company has a market capitalization of $21.96 billion, a price-to-earnings ratio of 8.23 and a beta of 1.46. The firm's 50-day simple moving average is $34.67 and its 200-day simple moving average is $31.85. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TS. Stifel Nicolaus dropped their target price on Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. StockNews.com raised Tenaris from a "hold" rating to a "buy" rating in a report on Wednesday, November 27th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $38.67.

Tenaris Company 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.