StockNews.com upgraded shares of Tenaris (NYSE:TS - Free Report) from a hold rating to a buy rating in a research report report published on Wednesday morning.
Separately, Stifel Nicolaus reduced their price objective on shares of Tenaris from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $38.67.
Check Out Our Latest Report on Tenaris
Tenaris Price Performance
Tenaris stock traded up $0.36 during trading hours on Wednesday, hitting $37.97. The company had a trading volume of 729,822 shares, compared to its average volume of 1,940,285. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The firm has a market capitalization of $22.07 billion, a P/E ratio of 8.19 and a beta of 1.43. The firm's fifty day moving average is $33.37 and its 200-day moving average is $31.63.
Tenaris Cuts Dividend
The company also recently disclosed 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 is presently 23.53%.
Hedge Funds Weigh In On Tenaris
A number of hedge funds have recently made changes to their positions in TS. Allspring Global Investments Holdings LLC acquired a new stake in Tenaris in the 2nd quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris in the 3rd quarter valued at $33,000. Covestor Ltd bought a new stake in shares of Tenaris in the 3rd quarter worth about $40,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tenaris during the 3rd quarter worth about $67,000. Finally, Blue Trust Inc. lifted its holdings in Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company's stock valued at $110,000 after purchasing an additional 1,583 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company's stock.
About Tenaris
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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.
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