Short Interest in Tenaris S.A. (NYSE:TS) Increases By 26.4%

Tenaris S.A. (NYSE:TS - Get Free Report) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 3,160,000 shares, a growth of 26.4% from the October 15th total of 2,500,000 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TS. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Tenaris during the 1st quarter worth approximately $293,000. Sei Investments Co. boosted its position in shares of Tenaris by 133.2% during the 1st quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company's stock worth $2,501,000 after acquiring an additional 36,380 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company's stock worth $62,000 after purchasing an additional 1,486 shares during the last quarter. US Bancorp DE boosted its stake in Tenaris by 542.1% during the 1st quarter. US Bancorp DE now owns 86,351 shares of the industrial products company's stock worth $3,391,000 after purchasing an additional 72,902 shares during the period. Finally, Acadian Asset Management LLC increased its holdings in shares of Tenaris by 20,284.0% in the first quarter. Acadian Asset Management LLC now owns 550,979 shares of the industrial products company's stock valued at $21,623,000 after purchasing an additional 548,276 shares during the period. Hedge funds and other institutional investors own 10.45% of the company's stock.

Analysts Set New Price Targets

TS has been the subject of a number of recent analyst reports. StockNews.com upgraded Tenaris from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Stifel Nicolaus cut their price target on shares of 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 issued a buy rating to the company's stock. According to MarketBeat.com, Tenaris has an average rating of "Hold" and an average price target of $38.67.

Tenaris Trading Up 0.1 %

TS traded up $0.04 on Friday, reaching $37.00. The stock had a trading volume of 638,270 shares, compared to its average volume of 1,969,908. The company has a market cap of $21.51 billion, a P/E ratio of 8.13 and a beta of 1.43. The business's 50-day moving average price is $31.97 and its two-hundred day moving average price is $31.47. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72.

Tenaris Cuts Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris's dividend payout ratio is currently 34.86%.

Tenaris Company 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.