Massachusetts Financial Services Co. MA Sells 66,352 Shares of Tenaris S.A. (NYSE:TS)

Massachusetts Financial Services Co. MA reduced its position in shares of Tenaris S.A. (NYSE:TS) by 11.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 518,818 shares of the industrial products company’s stock after selling 66,352 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Tenaris were worth $16,493,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TS. Van ECK Associates Corp increased its holdings 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 purchasing an additional 313,185 shares during the period. Renaissance Technologies LLC grew its position in Tenaris by 46.2% during the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after buying an additional 819,500 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Tenaris by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after acquiring an additional 56,935 shares during the period. Mediolanum International Funds Ltd acquired a new position in Tenaris in the 3rd quarter valued at $17,129,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Tenaris by 9.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 518,692 shares of the industrial products company’s stock valued at $15,830,000 after acquiring an additional 43,844 shares during the period. 10.45% of the stock is currently owned by institutional investors.

Tenaris Stock Performance

Shares of TS opened at $37.67 on Tuesday. Tenaris S.A. has a 52-week low of $27.24 and a 52-week high of $40.72. The firm has a market cap of $21.90 billion, a price-to-earnings ratio of 8.21 and a beta of 1.43. The business’s fifty day moving average is $33.20 and its 200-day moving average is $31.61.

Tenaris Cuts Dividend

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

Analysts Set New Price Targets

TS has been the topic of a number of recent analyst reports. 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 report on Friday, October 11th. StockNews.com lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Tenaris currently has a consensus rating of “Hold” and a consensus price target of $38.67.

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.