Jefferies Financial Group Upgrades Tenaris (NYSE:TS) to "Buy"

Jefferies Financial Group upgraded shares of Tenaris (NYSE:TS - Free Report) from a hold rating to a buy rating in a research report released on Monday, MarketBeat Ratings reports. They currently have $47.00 target price on the industrial products company's stock, up from their previous target price of $35.00.

A number of other brokerages also recently weighed in on TS. StockNews.com raised shares of Tenaris from a "hold" rating to a "buy" rating in a research report on Wednesday, November 27th. 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. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.75.

Tenaris Trading Up 2.7 %

NYSE TS traded up $1.02 during mid-day trading on Monday, reaching $38.79. 1,777,034 shares of the company's stock traded hands, compared to its average volume of 1,933,112. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The company has a fifty day simple moving average of $34.67 and a 200-day simple moving average of $31.84. The company has a market cap of $22.55 billion, a price-to-earnings ratio of 8.23 and a beta of 1.46.

Tenaris Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th were paid a $0.54 dividend. The ex-dividend date of this dividend 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 stock. QRG Capital Management Inc. lifted its stake in Tenaris by 7.3% during the second quarter. QRG Capital Management Inc. now owns 31,200 shares of the industrial products company's stock valued at $952,000 after buying an additional 2,120 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Tenaris by 26.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 37,048 shares of the industrial products company's stock worth $1,131,000 after purchasing an additional 7,790 shares during the period. Naples Global Advisors LLC purchased a new position in shares of Tenaris during the second quarter valued at $233,000. Blue Trust Inc. grew its stake 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 acquiring an additional 1,583 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Tenaris by 1.1% in the 2nd quarter. Raymond James & Associates now owns 145,228 shares of the industrial products company's stock valued at $4,432,000 after purchasing an additional 1,537 shares during the period. 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.