Concentric Capital Strategies LP Invests $1.16 Million in Tenaris S.A. (NYSE:TS)

Concentric Capital Strategies LP purchased a new position in Tenaris S.A. (NYSE:TS - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,576 shares of the industrial products company's stock, valued at approximately $1,163,000.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in shares of Tenaris during the second quarter worth $1,518,000. Boston Partners bought a new stake in shares of Tenaris in the first quarter valued at about $1,662,000. Cubist Systematic Strategies LLC raised its holdings in shares of Tenaris by 69.7% in the second quarter. Cubist Systematic Strategies LLC now owns 482,376 shares of the industrial products company's stock valued at $14,722,000 after acquiring an additional 198,128 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Tenaris by 7.3% in the second quarter. QRG Capital Management Inc. now owns 31,200 shares of the industrial products company's stock valued at $952,000 after acquiring an additional 2,120 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Tenaris in the second quarter valued at about $2,822,000. 10.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on TS shares. Stifel Nicolaus cut their target price on Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. StockNews.com upgraded Tenaris from a "hold" rating to a "buy" rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $38.67.

Tenaris Trading Up 0.9 %

Shares of TS stock traded up $0.36 during trading hours on Tuesday, reaching $38.84. 416,376 shares of the company's stock were exchanged, compared to its average volume of 1,934,485. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72. The stock has a market cap of $22.58 billion, a PE ratio of 8.38 and a beta of 1.46. The stock's fifty day moving average price is $34.07 and its two-hundred day moving average price is $31.72.

Tenaris Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th were issued a dividend of $0.54 per share. This represents a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, November 19th. Tenaris's dividend payout ratio (DPR) 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.