Tenaris S.A. (NYSE:TS) Short Interest Down 20.5% in November
Tenaris S.A. (NYSE:TS – Get Free Report) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 2,600,000 shares, a drop of 20.5% from the October 31st total of 3,270,000 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 2,040,000 shares, the short-interest ratio is currently 1.3 days.
Wall Street Analyst Weigh In
TS has been the subject of a number of analyst reports. StockNews.com cut shares of Tenaris from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 3rd. Morgan Stanley decreased their target price on shares of Tenaris from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th.
Read Our Latest Research Report on TS
Institutional Trading of Tenaris
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in shares of Tenaris by 155.8% in the second quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 676 shares during the period. Belpointe Asset Management LLC grew its position in shares of Tenaris by 41.7% in the first quarter. Belpointe Asset Management LLC now owns 1,546 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 455 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Tenaris in the third quarter valued at about $45,000. Ronald Blue Trust Inc. grew its position in shares of Tenaris by 36.2% in the third quarter. Ronald Blue Trust Inc. now owns 2,705 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 719 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Tenaris in the second quarter valued at about $76,000. Institutional investors and hedge funds own 11.58% of the company’s stock.
Tenaris Stock Up 0.6 %
Shares of NYSE:TS traded up $0.20 during midday trading on Friday, reaching $34.87. The company’s stock had a trading volume of 2,740,012 shares, compared to its average volume of 1,965,318. The firm has a market capitalization of $20.58 billion, a PE ratio of 5.73, a P/E/G ratio of 2.97 and a beta of 1.49. Tenaris has a twelve month low of $24.69 and a twelve month high of $38.00. The stock has a fifty day moving average of $32.98 and a 200 day moving average of $31.41.
Tenaris (NYSE:TS – Get Free Report) last released its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.27). The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.08 billion. Tenaris had a return on equity of 23.42% and a net margin of 23.86%. Sell-side analysts anticipate that Tenaris will post 5.74 earnings per share for the current fiscal year.
Tenaris Dividend Announcement
The company also recently declared an annual dividend, which was paid on Wednesday, November 22nd. Investors of record on Tuesday, November 21st were given a dividend of $0.40 per share. The ex-dividend date was Monday, November 20th. This represents a yield of 1.15%. Tenaris’s dividend payout ratio is presently 13.14%.
Tenaris Company Profile (Get Free Report)
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.
Further Reading
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Original: MarketBeat News Feed: Tenaris S.A. (NYSE:TS) Short Interest Down 20.5% in November