Erste Asset Management GmbH Takes Position in Tenaris S.A. (NYSE:TS)

Erste Asset Management GmbH purchased a new stake in Tenaris S.A. (NYSE:TS - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 60,000 shares of the industrial products company's stock, valued at approximately $1,894,000.

Several other hedge funds have also modified their holdings of TS. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tenaris in the 2nd quarter worth approximately $32,000. Covestor Ltd purchased a new stake in Tenaris in the 3rd quarter valued at approximately $40,000. Blue Trust Inc. grew its holdings in Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company's stock valued at $110,000 after buying an additional 1,583 shares during the last quarter. West Family Investments Inc. acquired a new stake in Tenaris during the 3rd quarter valued at $200,000. Finally, Naples Global Advisors LLC acquired a new stake in Tenaris during the 2nd quarter valued at $233,000. 10.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TS has been the topic of a number of analyst reports. StockNews.com upgraded Tenaris from a "hold" rating to a "buy" rating in a report on Wednesday, November 27th. Stifel Nicolaus lowered their target price on Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $38.67.

Tenaris Price Performance

TS traded down $0.32 during trading on Wednesday, hitting $38.46. The company's stock had a trading volume of 1,714,176 shares, compared to its average volume of 1,935,941. The firm's 50 day moving average price is $34.39 and its 200-day moving average price is $31.80. The stock has a market cap of $22.36 billion, a PE ratio of 8.38 and a beta of 1.46. Tenaris S.A. has a twelve month low of $27.24 and a twelve month high of $40.72.

Tenaris Cuts Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders 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 dividend yield of 3.6%. Tenaris's dividend payout ratio is presently 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.