Point72 Asset Management L.P. Boosts Position in Tenaris S.A. (NYSE:TS)

Point72 Asset Management L.P. lifted its stake in Tenaris S.A. (NYSE:TS - Free Report) by 102.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,050,552 shares of the industrial products company's stock after purchasing an additional 531,860 shares during the period. Point72 Asset Management L.P. owned about 0.18% of Tenaris worth $33,397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC lifted its holdings in Tenaris by 46.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company's stock worth $79,109,000 after buying an additional 819,500 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Tenaris during the third quarter worth about $21,454,000. FMR LLC lifted its holdings in shares of Tenaris by 21.3% in the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company's stock valued at $111,381,000 after purchasing an additional 614,884 shares during the last quarter. Mediolanum International Funds Ltd purchased a new position in Tenaris during the 3rd quarter worth approximately $17,129,000. Finally, SIR Capital Management L.P. acquired a new position in Tenaris during the second quarter worth approximately $9,680,000. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Trading Down 3.3 %

Shares of Tenaris stock traded down $1.28 on Friday, reaching $37.77. 1,689,464 shares of the stock were exchanged, compared to its average volume of 1,933,773. The firm has a market capitalization of $21.96 billion, a PE ratio of 8.23 and a beta of 1.46. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72. The business has a fifty day moving average price of $34.55 and a two-hundred day moving average price of $31.85.

Tenaris Cuts Dividend

The firm also recently declared 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 was Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris's dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of 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 research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $38.67.

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.