Kiltearn Partners LLP Cuts Position in Tenaris S.A. (NYSE:TS)

Kiltearn Partners LLP reduced its stake in shares of Tenaris S.A. (NYSE:TS) by 15.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 514,359 shares of the industrial products company’s stock after selling 97,300 shares during the quarter. Tenaris makes up 2.2% of Kiltearn Partners LLP’s holdings, making the stock its 19th largest position. Kiltearn Partners LLP’s holdings in Tenaris were worth $16,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after purchasing an additional 614,884 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Tenaris by 10.9% during the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock worth $97,154,000 after acquiring an additional 313,185 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Tenaris by 46.2% during the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after acquiring an additional 819,500 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Tenaris by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock valued at $70,009,000 after purchasing an additional 56,935 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in Tenaris in the 3rd quarter worth approximately $17,129,000. Institutional investors own 10.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TS shares. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus cut their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.67.

Tenaris Price Performance

NYSE TS opened at $37.60 on Wednesday. Tenaris S.A. has a 1-year low of $27.24 and a 1-year high of $40.72. The company has a market cap of $21.86 billion, a PE ratio of 8.19 and a beta of 1.43. The stock’s 50 day simple moving average is $33.37 and its 200-day simple moving average is $31.63.

Tenaris Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th were paid a $0.54 dividend. This represents a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, November 19th. Tenaris’s dividend payout ratio is currently 23.53%.

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.