Tenaris (NYSE:TS) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of Tenaris (NYSE:TS) in a research report report published on Thursday morning. The firm issued an overweight rating and a $48.00 price objective on the industrial products company’s stock.

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

Tenaris Trading Up 0.8 %

Shares of TS opened at $37.19 on Thursday. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The stock has a fifty day moving average price of $35.85 and a 200-day moving average price of $32.19. The firm has a market cap of $21.62 billion, a PE ratio of 8.10 and a beta of 1.46.

Tenaris Cuts Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were paid a $0.54 dividend. 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 presently 23.53%.

Hedge Funds Weigh In On Tenaris

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tenaris by 36.1% during the 3rd 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 in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Tenaris by 3.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after purchasing an additional 710 shares during the period. Signaturefd LLC lifted its holdings in shares of Tenaris by 4.7% in the second quarter. Signaturefd LLC now owns 16,338 shares of the industrial products company’s stock valued at $499,000 after purchasing an additional 732 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tenaris during the third quarter worth about $33,000. Finally, Covestor Ltd bought a new position in shares of Tenaris during the third quarter worth about $40,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.