Analysts Set Tenaris S.A. (NYSE:TS) Price Target at $42.75

Tenaris S.A. (NYSE:TS) has been assigned a consensus recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $42.75.

Several research firms have weighed in on TS. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus lowered their price objective on 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 report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 target price on the stock.

Institutional Trading of Tenaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its position in shares of Tenaris by 36.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 377 shares during the period. Ballentine Partners LLC raised its stake in Tenaris by 6.1% in the fourth quarter. Ballentine Partners LLC now owns 8,928 shares of the industrial products company’s stock worth $337,000 after buying an additional 516 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after buying an additional 548 shares during the period. Versant Capital Management Inc bought a new stake in Tenaris during the 4th quarter valued at approximately $28,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tenaris during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Stock Performance

Shares of NYSE:TS opened at $37.83 on Tuesday. The firm has a market capitalization of $21.99 billion, a PE ratio of 8.24 and a beta of 1.44. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72. The firm has a fifty day moving average of $38.23 and a 200 day moving average of $33.71.

Tenaris Cuts Dividend

The firm also recently announced 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%.

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.