Tenaris (NYSE:TS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS - Free Report) from a hold rating to a buy rating in a report published on Friday morning.

Several other equities research analysts have also recently issued reports on the stock. Piper Sandler began coverage on shares of Tenaris in a report on Thursday, December 19th. They issued an "overweight" rating and a $48.00 target price on the stock. Stifel Nicolaus reduced their price objective on Tenaris from $37.00 to $36.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Finally, Jefferies Financial Group raised shares of Tenaris from a "hold" rating to a "buy" rating and upped their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.75.

Tenaris Price Performance

NYSE TS traded down $0.32 during trading hours on Friday, hitting $38.62. The company's stock had a trading volume of 1,066,170 shares, compared to its average volume of 1,135,913. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The company's 50 day simple moving average is $37.90 and its two-hundred day simple moving average is $33.07. The company has a market cap of $22.45 billion, a P/E ratio of 8.41 and a beta of 1.45.

Tenaris Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.54 per share. This represents a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, November 19th. Tenaris's payout ratio is 23.53%.

Institutional Trading of Tenaris

A number of hedge funds and other institutional investors have recently modified their holdings of TS. Commonwealth Equity Services LLC boosted its stake in shares of Tenaris by 9.3% in the second quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company's stock worth $455,000 after acquiring an additional 1,271 shares during the period. American Century Companies Inc. boosted its stake in Tenaris by 10.3% in the 2nd quarter. American Century Companies Inc. now owns 15,913 shares of the industrial products company's stock worth $486,000 after purchasing an additional 1,487 shares during the period. XTX Topco Ltd purchased a new stake in Tenaris during the 2nd quarter valued at approximately $1,289,000. 1832 Asset Management L.P. raised its position in shares of Tenaris by 16.6% during the second quarter. 1832 Asset Management L.P. now owns 32,950 shares of the industrial products company's stock valued at $1,006,000 after buying an additional 4,700 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in shares of Tenaris by 3.7% in the second quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company's stock worth $608,000 after buying an additional 710 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.