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

Shares of Tenaris S.A. (NYSE:TS) have earned an average recommendation of “Hold” from the five analysts that are presently covering the firm, 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 12 month price objective among brokers that have updated their coverage on the stock in the last year is $42.75.

A number of research analysts have weighed in on TS shares. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a report on Friday. Stifel Nicolaus lowered their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Piper Sandler assumed coverage on Tenaris in a research note on Thursday, December 19th. They set an “overweight” rating and a $48.00 price objective on the stock.

Tenaris Price Performance

NYSE TS opened at $37.76 on Friday. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The firm has a market capitalization of $21.95 billion, a P/E ratio of 8.23 and a beta of 1.45. The business’s 50-day simple moving average is $37.04 and its 200-day simple moving average is $32.62.

Tenaris Cuts Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were issued a $0.54 dividend. The ex-dividend date was Tuesday, November 19th. This represents a yield of 3.6%. Tenaris’s dividend payout ratio is currently 23.53%.

Hedge Funds Weigh In On Tenaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Tenaris by 187.4% in the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after buying an additional 1,660,300 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Tenaris by 46.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after acquiring an additional 819,500 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Tenaris in the 3rd quarter worth about $21,454,000. FMR LLC raised its stake in shares of Tenaris by 21.3% in the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after purchasing an additional 614,884 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of Tenaris during the third quarter worth about $17,129,000. 10.45% of the stock is 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.