Tenaris (NYSE:TS) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a report released on Friday morning.

Several other equities research analysts have also weighed in on TS. Stifel Nicolaus dropped 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. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Finally, Piper Sandler assumed coverage on Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Tenaris Stock Up 0.5 %

NYSE TS opened at $37.76 on Friday. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The firm has a market capitalization of $21.95 billion, a PE ratio of 8.23 and a beta of 1.45. The stock’s 50 day moving average is $37.04 and its 200 day moving average is $32.62.

Tenaris Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th were given a dividend of $0.54 per share. This represents a yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris’s dividend payout ratio (DPR) is presently 23.53%.

Institutional Trading of Tenaris

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its position in Tenaris by 21.3% in the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after buying an additional 614,884 shares in the last quarter. Renaissance Technologies LLC increased its position in Tenaris by 46.2% in 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. Wellington Management Group LLP boosted its stake in shares of Tenaris by 187.4% in the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after acquiring an additional 1,660,300 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Tenaris by 102.5% in the third quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock worth $33,397,000 after acquiring an additional 531,860 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Tenaris in the third quarter worth about $21,454,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.