Tenaris (NYSE:TS) Stock Rating Upgraded by StockNews.com

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

Several other brokerages have also recently weighed in on TS. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and increased their price target for the company from $35.00 to $47.00 in a research note on Monday, December 9th. 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 target price for the company. Finally, Stifel Nicolaus dropped their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Tenaris presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Tenaris Price Performance

TS stock opened at $38.62 on Friday. The stock has a market cap of $22.45 billion, a price-to-earnings ratio of 8.41 and a beta of 1.45. The company has a 50 day simple moving average of $37.97 and a 200 day simple moving average of $33.20. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris’s payout ratio is 23.53%.

Institutional Investors Weigh In On Tenaris

A number of hedge funds have recently added to or reduced their stakes in TS. Commonwealth Equity Services LLC grew its position in shares of Tenaris by 9.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company’s stock worth $455,000 after buying an additional 1,271 shares during the period. American Century Companies Inc. grew its holdings in Tenaris by 10.3% in the second quarter. American Century Companies Inc. now owns 15,913 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 1,487 shares during the period. XTX Topco Ltd bought a new stake in Tenaris in the second quarter valued at $1,289,000. 1832 Asset Management L.P. raised its holdings in shares of Tenaris by 16.6% during the second quarter. 1832 Asset Management L.P. now owns 32,950 shares of the industrial products company’s stock valued at $1,006,000 after purchasing an additional 4,700 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in shares of Tenaris by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock worth $608,000 after purchasing an additional 710 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

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.