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

Holocene Advisors LP bought a new position in Tenaris S.A. (NYSE:TS - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 674,857 shares of the industrial products company's stock, valued at approximately $21,454,000. Holocene Advisors LP owned about 0.12% of Tenaris at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TS. Boston Partners purchased a new stake in Tenaris in the first quarter worth $1,662,000. Manning & Napier Advisors LLC purchased a new position in shares of Tenaris during the 2nd quarter valued at $1,518,000. QRG Capital Management Inc. increased 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 worth $952,000 after purchasing an additional 2,120 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Tenaris by 26.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 37,048 shares of the industrial products company's stock worth $1,131,000 after buying an additional 7,790 shares in the last quarter. Finally, Naples Global Advisors LLC purchased a new stake in shares of Tenaris in the second quarter worth $233,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus lowered their price objective 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 upgraded Tenaris from a "hold" rating to a "buy" rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $38.67.

Tenaris Stock Performance

TS traded up $0.36 during trading on Tuesday, reaching $38.84. The stock had a trading volume of 691,137 shares, compared to its average volume of 1,935,463. The stock has a market cap of $22.58 billion, a PE ratio of 8.38 and a beta of 1.46. Tenaris S.A. has a one year low of $27.24 and a one year high of $40.72. The business has a 50-day moving average of $34.07 and a 200-day moving average of $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 paid a $0.54 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a yield of 3.6%. Tenaris's dividend payout ratio is presently 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.