Holocene Advisors LP Invests $21.45 Million in Tenaris S.A. (NYSE:TS)

Holocene Advisors LP bought a new stake in Tenaris S.A. (NYSE:TS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 674,857 shares of the industrial products company’s stock, valued at approximately $21,454,000. Holocene Advisors LP owned 0.12% of Tenaris at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Tenaris by 21.3% in the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after acquiring an additional 614,884 shares during the period. Van ECK Associates Corp boosted its stake in shares of Tenaris by 10.9% in the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock valued at $97,154,000 after purchasing an additional 313,185 shares during the period. Renaissance Technologies LLC grew 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 valued at $79,109,000 after purchasing an additional 819,500 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in Tenaris during the 3rd quarter worth $17,129,000. Finally, Point72 Asset Management L.P. lifted its holdings in Tenaris by 9.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 518,692 shares of the industrial products company’s stock worth $15,830,000 after buying an additional 43,844 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Performance

Shares of Tenaris stock opened at $38.48 on Tuesday. The firm has a market cap of $22.37 billion, a PE ratio of 8.38 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 firm’s 50-day simple moving average is $34.07 and its 200-day simple moving average is $31.72.

Tenaris Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.54 per share. This represents a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, November 19th. Tenaris’s dividend payout ratio is presently 23.53%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TS. Stifel Nicolaus lowered their target price 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 upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.67.

Tenaris 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.