Short Interest in Tenaris S.A. (NYSE:TS) Declines By 12.5%

Tenaris S.A. (NYSE:TS) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 3,920,000 shares, a decrease of 12.5% from the December 31st total of 4,480,000 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 1,470,000 shares, the short-interest ratio is currently 2.7 days.

Tenaris Stock Performance

NYSE TS opened at $37.64 on Friday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The business’s fifty day moving average is $38.23 and its two-hundred day moving average is $33.68. The stock has a market capitalization of $21.88 billion, a P/E ratio of 8.20 and a beta of 1.45.

Tenaris Cuts Dividend

The business also recently announced 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 was Tuesday, November 19th. Tenaris’s dividend payout ratio is 23.53%.

Hedge Funds Weigh In On Tenaris

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc purchased a new stake in shares of Tenaris in the fourth quarter valued at $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris during the 3rd quarter worth about $33,000. GAMMA Investing LLC grew its stake in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 548 shares in the last quarter. Covestor Ltd acquired a new position in shares of Tenaris in the 3rd quarter valued at about $40,000. Finally, Allspring Global Investments Holdings LLC lifted its position 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 worth $45,000 after purchasing an additional 377 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday. Piper Sandler started coverage on Tenaris in a report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price target on the stock. Kepler Capital Markets downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and raised their target price for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Tenaris presently has a consensus rating of “Hold” and a consensus target price of $42.75.

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.