Point72 Hong Kong Ltd Has $32,000 Position in Tenaris S.A. (NYSE:TS)

Point72 Hong Kong Ltd lowered its position in shares of Tenaris S.A. (NYSE:TS - Free Report) by 95.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 998 shares of the industrial products company's stock after selling 19,604 shares during the quarter. Point72 Hong Kong Ltd's holdings in Tenaris were worth $32,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TS. Manning & Napier Advisors LLC purchased a new stake in Tenaris in the 2nd quarter worth approximately $1,518,000. Cubist Systematic Strategies LLC boosted its position in Tenaris by 69.7% during 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 purchasing an additional 198,128 shares during the last quarter. QRG Capital Management Inc. boosted its position in Tenaris by 7.3% during the second quarter. QRG Capital Management Inc. now owns 31,200 shares of the industrial products company's stock valued at $952,000 after purchasing an additional 2,120 shares during the last quarter. Quantbot Technologies LP purchased a new position in Tenaris in the second quarter valued at about $2,822,000. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Tenaris during the 3rd quarter worth about $17,129,000. Hedge funds and other institutional investors own 10.45% of the company's stock.

Tenaris Trading Down 0.8 %

TS stock traded down $0.32 during trading on Wednesday, hitting $38.46. 1,714,176 shares of the stock traded hands, compared to its average volume of 1,935,941. The stock has a market cap of $22.36 billion, a price-to-earnings 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 company has a 50 day simple moving average of $34.39 and a 200 day simple moving average of $31.80.

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 dividend of $0.54 per share. This represents a dividend yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris's dividend payout ratio (DPR) is 23.53%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com raised shares of Tenaris from a "hold" rating to a "buy" rating in a research report on Wednesday, November 27th. Stifel Nicolaus decreased their price objective on shares of Tenaris from $37.00 to $36.00 and set a "buy" rating for the company in a report on Friday, October 11th. One 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. According to data from MarketBeat.com, the stock 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.