Tenaris S.A. (NYSE:TS) Receives Consensus Rating of “Hold” from Brokerages

Tenaris S.A. (NYSE:TS) has earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $42.75.

Several research firms have recently issued reports on TS. Stifel Nicolaus dropped their price objective 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. Piper Sandler began coverage on Tenaris in a report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target for the company. 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 report on Monday, December 9th. Finally, StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd.

Tenaris Trading Up 0.9 %

Shares of TS stock opened at $38.37 on Friday. The firm has a market capitalization of $22.31 billion, a P/E ratio of 8.36 and a beta of 1.45. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The firm’s fifty day simple moving average is $37.28 and its 200 day simple moving average is $32.73.

Tenaris Cuts Dividend

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

Institutional Trading of Tenaris

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Tenaris during the fourth quarter valued at approximately $28,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tenaris in the third quarter valued at approximately $67,000. World Investment Advisors LLC bought a new position in Tenaris in the 3rd quarter worth approximately $2,200,000. Finally, Barclays PLC lifted its holdings in Tenaris by 30,000.0% during the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock worth $192,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.