Tenaris S.A. (NYSE:TS) Given Average Rating of “Hold” by Brokerages

Shares of Tenaris S.A. (NYSE:TS) have received an average recommendation of “Hold” from the five research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $42.75.

TS has been the topic of a number of research analyst reports. Piper Sandler began coverage on shares of Tenaris in a research note on Thursday, December 19th. They issued an “overweight” rating and a $48.00 target price on the stock. StockNews.com raised Tenaris from a “hold” rating to a “buy” rating in a report on Wednesday, November 27th. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Finally, Stifel Nicolaus dropped their price target on 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 $37.57 on Friday. The company has a market capitalization of $21.84 billion, a P/E ratio of 8.19 and a beta of 1.46. The company’s 50-day moving average is $36.93 and its 200 day moving average is $32.56. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris Cuts Dividend

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

Hedge Funds Weigh In On Tenaris

Several hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tenaris during the third quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC bought a new position in Tenaris in the 2nd quarter valued at $32,000. Covestor Ltd purchased a new position in shares of Tenaris during the 3rd quarter valued at $40,000. Wilmington Savings Fund Society FSB bought a new position in shares of Tenaris in the third quarter worth $67,000. Finally, Barclays PLC raised its position in shares of Tenaris by 30,000.0% in 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 in the last quarter. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.