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

Tenaris S.A. (NYSE:TS) has been given a consensus recommendation of “Hold” by the six analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.75.

A number of equities analysts recently commented on TS shares. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday. Stifel Nicolaus dropped their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Piper Sandler initiated coverage on shares of Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price on the stock. Finally, Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th.

Tenaris Trading Up 1.1 %

Shares of NYSE:TS opened at $38.14 on Tuesday. The firm has a market cap of $22.17 billion, a price-to-earnings ratio of 8.31 and a beta of 1.45. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The business has a fifty day simple moving average of $38.21 and a 200 day simple moving average of $33.61.

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 given a $0.54 dividend. The ex-dividend date was Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris’s dividend payout ratio is 23.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc acquired a new stake in Tenaris during the fourth quarter worth about $28,000. GAMMA Investing LLC lifted its position in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tenaris in the 3rd quarter worth approximately $33,000. Covestor Ltd acquired a new stake in shares of Tenaris during the 3rd quarter worth approximately $40,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Tenaris by 36.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 377 shares during the period. Institutional investors own 10.45% of the company’s stock.

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.