Tenaris S.A. (NYSE:TS) Receives $38.67 Consensus PT from Analysts

Tenaris S.A. (NYSE:TS) has been given an average recommendation of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $38.67.

TS has been the topic of several research analyst reports. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Stifel Nicolaus cut their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th.

Tenaris Trading Up 1.4 %

TS opened at $37.50 on Thursday. The stock’s fifty day simple moving average is $32.31 and its 200 day simple moving average is $31.50. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The stock has a market cap of $21.80 billion, a PE ratio of 8.17 and a beta of 1.43.

Tenaris Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th will be given a dividend of $0.54 per share. This represents a yield of 3.6%. The ex-dividend date of this dividend is Tuesday, November 19th. Tenaris’s dividend payout ratio is currently 34.86%.

Institutional Investors Weigh In On Tenaris

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC lifted its stake in Tenaris by 21.3% in the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after purchasing an additional 614,884 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Tenaris by 10.9% during the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock valued at $97,154,000 after purchasing an additional 313,185 shares during the period. Renaissance Technologies LLC boosted its holdings in Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after acquiring an additional 819,500 shares in the last quarter. Wellington Management Group LLP grew its position in Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after purchasing an additional 1,660,300 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Tenaris by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock valued at $70,009,000 after buying an additional 56,935 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.