Tenaris (NYSE:TS) Stock Rating Upgraded by StockNews.com

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

Separately, Stifel Nicolaus decreased their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tenaris has a consensus rating of “Hold” and an average target price of $38.67.

Tenaris Stock Performance

NYSE:TS opened at $38.33 on Wednesday. The stock has a 50-day simple moving average of $33.89 and a 200-day simple moving average of $31.75. The stock has a market cap of $22.28 billion, a P/E ratio of 8.35 and a beta of 1.43. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72.

Tenaris Cuts Dividend

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

Institutional Investors Weigh In On Tenaris

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