Point72 Hong Kong Ltd Has $32,000 Stock Position in Tenaris S.A. (NYSE:TS)

Point72 Hong Kong Ltd trimmed its stake in shares of Tenaris S.A. (NYSE:TS) by 95.2% in the third quarter, Holdings Channel.com reports. The fund owned 998 shares of the industrial products company’s stock after selling 19,604 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Tenaris were worth $32,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Tenaris by 36.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 377 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Tenaris by 3.7% in 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 position in Tenaris by 4.7% in the 2nd quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock valued at $499,000 after buying an additional 732 shares in the last quarter. Covestor Ltd acquired a new position in Tenaris during the 3rd quarter worth approximately $40,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Tenaris by 9.3% in the second quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company’s stock worth $455,000 after acquiring an additional 1,271 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TS. Stifel Nicolaus cut their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. StockNews.com upgraded shares of 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.67.

Tenaris Stock Performance

Shares of TS stock opened at $38.78 on Wednesday. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.72. The company has a 50-day simple moving average of $34.23 and a two-hundred day simple moving average of $31.75. The company has a market capitalization of $22.55 billion, a price-to-earnings ratio of 8.45 and a beta of 1.46.

Tenaris Cuts Dividend

The firm also recently declared 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. The ex-dividend date was Tuesday, November 19th. This represents a yield of 3.6%. Tenaris’s dividend payout ratio (DPR) is currently 23.53%.

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.