Tenaris (NYSE:TS) Upgraded at StockNews.com

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

Separately, Stifel Nicolaus decreased their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Tenaris has a consensus rating of “Hold” and an average price target of $38.67.

Tenaris Stock Performance

Tenaris stock opened at $38.33 on Wednesday. The stock has a market capitalization of $22.28 billion, a P/E ratio of 8.35 and a beta of 1.43. The company’s fifty day moving average price is $33.89 and its 200 day moving average price is $31.75. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72.

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 payout ratio is currently 23.53%.

Institutional Investors Weigh In On Tenaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TS. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tenaris during the second quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tenaris in the 3rd quarter valued at approximately $33,000. Covestor Ltd acquired a new position in shares of Tenaris in the third quarter worth $40,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Tenaris during the third quarter worth $67,000. Finally, Blue Trust Inc. increased its position in shares of Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 1,583 shares during the period. Institutional investors and hedge funds 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.