Tenaris S.A. (NYSE:TS) Given Average Rating of “Hold” by Brokerages

Tenaris S.A. (NYSE:TS) has earned an average rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $42.75.

Several research analysts recently weighed in on TS shares. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Stifel Nicolaus reduced their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Finally, Piper Sandler began coverage on shares of Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price objective on the stock.

Tenaris Stock Performance

NYSE TS opened at $38.37 on Friday. The firm’s 50 day moving average price is $37.28 and its two-hundred day moving average price is $32.73. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The stock has a market cap of $22.31 billion, a price-to-earnings ratio of 8.36 and a beta of 1.45.

Tenaris Cuts Dividend

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

Institutional Investors Weigh In On Tenaris

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised 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 valued at $45,000 after purchasing an additional 377 shares during the period. GAMMA Investing LLC raised its holdings in Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the period. Evergreen Capital Management LLC raised its holdings in Tenaris by 3.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock worth $608,000 after acquiring an additional 710 shares during the period. Versant Capital Management Inc acquired a new position in Tenaris during the 4th quarter worth $28,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Tenaris during the third quarter valued at about $33,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.