Tenaris (NYSE:TS) Upgraded at StockNews.com

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

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

Tenaris Trading Down 0.8 %

TS opened at $38.62 on Friday. The stock has a market capitalization of $22.45 billion, a P/E ratio of 8.41 and a beta of 1.45. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The firm’s fifty day simple moving average is $37.97 and its 200 day simple moving average is $33.20.

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

Institutional Inflows and Outflows

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

Tenaris Company Profile

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.