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

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

Several analysts recently issued reports on the company. Piper Sandler assumed coverage on Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target on the stock. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Stifel Nicolaus cut their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Finally, Bank of America cut shares of Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday.

Tenaris Stock Up 1.1 %

Shares of NYSE TS opened at $38.14 on Tuesday. The firm’s 50-day moving average price is $38.21 and its two-hundred day moving average price is $33.61. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72. The stock has a market capitalization of $22.17 billion, a P/E ratio of 8.31 and a beta of 1.45.

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

Institutional Investors Weigh In On Tenaris

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc acquired a new position in shares of Tenaris in the 4th quarter valued at $28,000. GAMMA Investing LLC lifted its stake in Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after buying an additional 548 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tenaris in the third quarter worth about $33,000. Covestor Ltd acquired a new stake in shares of Tenaris during the third quarter valued at approximately $40,000. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 acquiring an additional 377 shares during the period. 10.45% of the stock is 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.