Tenaris S.A. (NYSE:TS) Given Consensus Rating of "Hold" by Analysts

Tenaris S.A. (NYSE:TS - Get Free Report) has earned a consensus recommendation of "Hold" from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $42.75.

Several equities research analysts have recently commented on TS shares. StockNews.com upgraded Tenaris from a "hold" rating to a "buy" rating in a report on Friday, January 17th. Jefferies Financial Group upgraded shares of Tenaris from a "hold" rating to a "buy" rating and upped their price objective for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Bank of America downgraded shares of Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday. Stifel Nicolaus dropped their price target on shares of Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, October 11th. Finally, Piper Sandler initiated coverage on Tenaris in a research note on Thursday, December 19th. They set an "overweight" rating and a $48.00 price objective on the stock.

Institutional Investors Weigh In On Tenaris

Institutional investors and hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Tenaris by 61.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company's stock worth $1,327,000 after acquiring an additional 13,374 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after buying an additional 548 shares during the period. Mediolanum International Funds Ltd bought a new stake in Tenaris in the third quarter valued at $17,129,000. International Assets Investment Management LLC bought a new stake in Tenaris in the third quarter valued at $380,000. Finally, Concentric Capital Strategies LP purchased a new position in Tenaris during the 3rd quarter valued at $1,163,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Tenaris Stock Down 1.4 %

TS traded down $0.54 during midday trading on Tuesday, hitting $37.62. The company had a trading volume of 1,036,395 shares, compared to its average volume of 1,324,674. The stock's 50 day moving average price is $38.23 and its 200 day moving average price is $33.64. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 8.19 and a beta of 1.45.

Tenaris Cuts Dividend

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

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.