Tenaris (NYSE:TS) Earns Overweight Rating from Analysts at Piper Sandler

Piper Sandler began coverage on shares of Tenaris (NYSE:TS - Free Report) in a research report report published on Thursday. The firm issued an overweight rating and a $48.00 price target on the industrial products company's stock.

Other analysts also recently issued reports about the stock. 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. StockNews.com raised Tenaris from a "hold" rating to a "buy" rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group raised Tenaris from a "hold" rating to a "buy" rating and raised their target price for the stock from $35.00 to $47.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.75.

Tenaris Price Performance

NYSE TS traded down $0.07 on Thursday, hitting $36.90. The stock had a trading volume of 2,723,716 shares, compared to its average volume of 1,920,414. The business's fifty day moving average price is $35.66 and its 200 day moving average price is $32.13. The stock has a market cap of $21.45 billion, a price-to-earnings ratio of 8.04 and a beta of 1.46. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72.

Tenaris Cuts Dividend

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

Hedge Funds Weigh In On Tenaris

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings 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 acquiring an additional 614,884 shares during the period. Van ECK Associates Corp raised its stake in Tenaris by 10.9% during the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company's stock worth $97,154,000 after purchasing an additional 313,185 shares during the period. Renaissance Technologies LLC boosted its holdings in Tenaris by 46.2% in the 2nd 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 during the last quarter. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 1,660,300 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of Tenaris by 102.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company's stock valued at $33,397,000 after buying an additional 531,860 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.