Erste Asset Management GmbH Invests $1.89 Million in Tenaris S.A. (NYSE:TS)

Erste Asset Management GmbH purchased a new stake in Tenaris S.A. (NYSE:TS) in the third quarter, HoldingsChannel.com reports. The fund purchased 60,000 shares of the industrial products company’s stock, valued at approximately $1,894,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new position in Tenaris in the 2nd quarter valued at about $32,000. Covestor Ltd acquired a new stake in shares of Tenaris during the 3rd quarter worth approximately $40,000. Blue Trust Inc. increased its stake in Tenaris by 79.0% in the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 1,583 shares during the last quarter. West Family Investments Inc. acquired a new position in Tenaris during the third quarter valued at approximately $200,000. Finally, Naples Global Advisors LLC bought a new stake in Tenaris during the second quarter worth $233,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Price Performance

Shares of Tenaris stock opened at $38.78 on Wednesday. The company’s 50 day moving average price is $34.23 and its two-hundred day moving average price is $31.75. The firm has a market capitalization of $22.55 billion, a P/E ratio of 8.45 and a beta of 1.46. 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 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 of this dividend was Tuesday, November 19th. Tenaris’s dividend payout ratio (DPR) is 23.53%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TS shares. Stifel Nicolaus decreased their price target on 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 raised Tenaris from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company 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.