Concentric Capital Strategies LP Purchases Shares of 36,576 Tenaris S.A. (NYSE:TS)

Concentric Capital Strategies LP bought a new stake in shares of Tenaris S.A. (NYSE:TS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 36,576 shares of the industrial products company’s stock, valued at approximately $1,163,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TS. Manning & Napier Advisors LLC acquired a new stake in Tenaris during the second quarter worth about $1,518,000. Boston Partners bought a new stake in shares of Tenaris during the first quarter valued at approximately $1,662,000. Cubist Systematic Strategies LLC raised its stake in shares of Tenaris by 69.7% in 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 in the last quarter. QRG Capital Management Inc. lifted its position in 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. Finally, Quantbot Technologies LP bought a new position in Tenaris in the second quarter worth $2,822,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Price Performance

TS stock opened at $38.48 on Tuesday. The stock has a market capitalization of $22.37 billion, a PE ratio of 8.38 and a beta of 1.46. The company has a 50 day moving average price of $34.07 and a 200 day moving average price of $31.72. Tenaris S.A. has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders 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 presently 23.53%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TS. 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 note 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Tenaris currently has a consensus rating of “Hold” and a consensus target price of $38.67.

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.