Caprock Group LLC Decreases Holdings in Tenaris S.A. (NYSE:TS)

Caprock Group LLC lowered its position in Tenaris S.A. (NYSE:TS) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,593 shares of the industrial products company’s stock after selling 387 shares during the period. Caprock Group LLC’s holdings in Tenaris were worth $464,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Cadence Wealth Management LLC grew its holdings in Tenaris by 26.7% in the third quarter. Cadence Wealth Management LLC now owns 17,566 shares of the industrial products company’s stock valued at $558,000 after purchasing an additional 3,699 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Tenaris by 21.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 21,737 shares of the industrial products company’s stock valued at $691,000 after acquiring an additional 3,845 shares during the last quarter. Covestor Ltd purchased a new position in Tenaris during the 3rd quarter valued at about $40,000. Assetmark Inc. raised its position in Tenaris by 0.9% during the third quarter. Assetmark Inc. now owns 439,553 shares of the industrial products company’s stock worth $13,973,000 after acquiring an additional 4,053 shares during the last quarter. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of Tenaris in the third quarter valued at about $17,129,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TS shares. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus dropped their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.67.

Tenaris Stock Performance

Shares of TS opened at $37.42 on Friday. The company has a market capitalization of $21.76 billion, a price-to-earnings ratio of 8.15 and a beta of 1.43. Tenaris S.A. has a 1 year low of $27.24 and a 1 year high of $40.72. The company’s 50 day simple moving average is $33.02 and its 200 day simple moving average is $31.62.

Tenaris Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders 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%.

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.