Brokerages Set Tenaris S.A. (NYSE:TS) PT at $38.67

Tenaris S.A. (NYSE:TS) has been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.67.

TS has been the subject of several analyst reports. StockNews.com downgraded Tenaris from a “buy” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus decreased their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th.

Tenaris Stock Performance

NYSE TS opened at $37.01 on Thursday. Tenaris has a one year low of $27.24 and a one year high of $40.72. The firm has a market cap of $21.52 billion, a PE ratio of 8.06 and a beta of 1.43. The firm’s fifty day moving average is $32.66 and its two-hundred day moving average is $31.56.

Tenaris Cuts Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were given 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 payout ratio is currently 34.86%.

Hedge Funds Weigh In On Tenaris

A number of large investors have recently made changes to their positions in TS. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Tenaris during the 1st quarter worth approximately $293,000. Sei Investments Co. grew its holdings in Tenaris by 133.2% in the first quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company’s stock valued at $2,501,000 after purchasing an additional 36,380 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Tenaris by 1,486.0% in the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after buying an additional 1,486 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Tenaris during the 1st quarter worth $1,142,000. Finally, US Bancorp DE boosted its position in shares of Tenaris by 542.1% in the 1st quarter. US Bancorp DE now owns 86,351 shares of the industrial products company’s stock worth $3,391,000 after buying an additional 72,902 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.