Tenaris S.A. (NYSE:TS) Short Interest Update

Tenaris S.A. (NYSE:TS) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,160,000 shares, an increase of 26.4% from the October 15th total of 2,500,000 shares. Based on an average daily trading volume, of 1,870,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.6% of the company’s stock are short sold.

Analysts Set New Price Targets

TS has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.67.

Hedge Funds Weigh In On Tenaris

Institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tenaris in the third quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in Tenaris during the second quarter valued at $32,000. Covestor Ltd bought a new position in Tenaris during the third quarter valued at $40,000. Headlands Technologies LLC grew its holdings in Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,486 shares during the period. Finally, Blue Trust Inc. grew its holdings in Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,583 shares during the period. 10.45% of the stock is owned by institutional investors.

Tenaris Stock Up 0.1 %

TS stock opened at $37.00 on Friday. The firm has a market cap of $21.51 billion, a PE ratio of 8.06 and a beta of 1.43. The business has a 50 day moving average of $32.14 and a 200-day moving average of $31.48. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72.

Tenaris Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th will be issued a $0.54 dividend. This represents a dividend yield of 3.6%. The ex-dividend date is Tuesday, November 19th. Tenaris’s dividend payout ratio is presently 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.