Tenaris S.A. (NYSE:TS) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in Tenaris S.A. (NYSE:TS) by 22.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,015 shares of the industrial products company’s stock after acquiring an additional 5,927 shares during the period. Quantinno Capital Management LP’s holdings in Tenaris were worth $1,018,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tenaris by 36.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 377 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Tenaris by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after buying an additional 710 shares during the period. Signaturefd LLC increased its stake in Tenaris by 4.7% during the second quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 732 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tenaris in the third quarter valued at approximately $33,000. Finally, Covestor Ltd acquired a new position in shares of Tenaris during the 3rd quarter valued at $40,000. 10.45% of the stock is owned by institutional investors and hedge funds.

Tenaris Trading Down 1.5 %

Shares of NYSE:TS opened at $38.51 on Friday. The firm has a market cap of $22.39 billion, a price-to-earnings ratio of 8.40 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 business has a fifty day simple moving average of $35.07 and a 200 day simple moving average of $31.96.

Tenaris Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th were issued 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 is currently 23.53%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TS. Stifel Nicolaus reduced their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and upped their price target for the company from $35.00 to $47.00 in a report on Monday. Finally, StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.75.

About Tenaris

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.