Analysts Set Tenaris S.A. (NYSE:TS) Target Price at $38.67

Shares of Tenaris S.A. (NYSE:TS) have been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has 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 twelve-month price target among brokers that have updated their coverage on the stock in the last year is $40.75.

Several research firms recently commented on TS. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Stifel Nicolaus lowered their price objective 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.

Tenaris Stock Performance

Shares of NYSE TS opened at $38.58 on Monday. The firm’s 50 day moving average price is $35.31 and its 200-day moving average price is $32.04. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72. The company has a market cap of $22.43 billion, a PE ratio of 8.41 and a beta of 1.46.

Tenaris Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th were paid a $0.54 dividend. This represents a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, November 19th. Tenaris’s dividend payout ratio (DPR) is presently 23.53%.

Institutional Trading of Tenaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TS. QRG Capital Management Inc. boosted its stake in shares of Tenaris by 7.3% during the 2nd quarter. QRG Capital Management Inc. now owns 31,200 shares of the industrial products company’s stock worth $952,000 after acquiring an additional 2,120 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Tenaris by 26.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 37,048 shares of the industrial products company’s stock worth $1,131,000 after buying an additional 7,790 shares in the last quarter. Naples Global Advisors LLC bought a new position in shares of Tenaris in the second quarter worth about $233,000. Blue Trust Inc. lifted its position in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after buying an additional 1,583 shares in the last quarter. Finally, Raymond James & Associates grew its stake in shares of Tenaris by 1.1% during the 2nd quarter. Raymond James & Associates now owns 145,228 shares of the industrial products company’s stock valued at $4,432,000 after acquiring an additional 1,537 shares during the period. 10.45% of the stock is owned by hedge funds and other 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.