Tenaris (NYSE:TS) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research note published on Friday.

Other equities research analysts have also issued reports about the stock. Piper Sandler assumed coverage on shares of Tenaris in a research note on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective on the stock. Stifel Nicolaus reduced their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.75.

Tenaris Trading Up 0.5 %

TS stock opened at $37.76 on Friday. The firm has a 50 day moving average of $37.04 and a 200-day moving average of $32.61. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 8.23 and a beta of 1.45. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72.

Tenaris Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th were issued 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 (DPR) is presently 23.53%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc purchased a new stake in Tenaris in the 4th quarter valued at about $28,000. GAMMA Investing LLC grew its holdings in Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 548 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tenaris during the third quarter worth approximately $33,000. Allspring Global Investments Holdings LLC purchased a new position in Tenaris during the second quarter worth approximately $32,000. Finally, Covestor Ltd acquired a new position in shares of Tenaris in the 3rd quarter valued at $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.