Tenaris (NYSE:TS) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Tenaris (NYSE:TS) in a research note released on Thursday. The brokerage issued an overweight rating and a $48.00 price target on the industrial products company’s stock.

A number of other research firms have also recently issued reports on TS. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus dropped their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Tenaris currently has a consensus rating of “Moderate Buy” and an average target price of $42.75.

Tenaris Stock Performance

TS opened at $36.90 on Thursday. The firm’s fifty day moving average is $35.75 and its two-hundred day moving average is $32.16. The firm has a market cap of $21.45 billion, a PE ratio of 8.04 and a beta of 1.46. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72.

Tenaris Cuts Dividend

The company also recently declared 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. This represents a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, November 19th. Tenaris’s dividend payout ratio (DPR) is currently 23.53%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in Tenaris during the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris in the 3rd quarter valued at approximately $33,000. Covestor Ltd acquired a new stake in shares of Tenaris in the 3rd quarter valued at approximately $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Tenaris in the third quarter valued at $67,000. Finally, Barclays PLC increased its holdings in Tenaris by 30,000.0% during the third quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock worth $192,000 after buying an additional 6,000 shares during the last quarter. 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.