Tenaris S.A. (NYSE:TS) Receives Average Recommendation of "Hold" from Brokerages

Tenaris S.A. (NYSE:TS - Get Free Report) has received an average recommendation of "Hold" from the five analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $42.75.

Several research analysts recently commented on TS shares. Stifel Nicolaus cut their price objective on shares of Tenaris from $37.00 to $36.00 and set a "buy" rating for the company 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. Jefferies Financial Group upgraded Tenaris from a "hold" rating to a "buy" rating and boosted their price objective for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Piper Sandler assumed coverage on Tenaris in a research note on Thursday, December 19th. They issued an "overweight" rating and a $48.00 target price for the company.

Institutional Trading of Tenaris

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after purchasing an additional 548 shares in the last quarter. Versant Capital Management Inc purchased a new position in Tenaris in the 4th quarter worth approximately $28,000. Wilmington Savings Fund Society FSB purchased a new position in Tenaris in the 3rd quarter worth approximately $67,000. World Investment Advisors LLC bought a new position in shares of Tenaris in the 3rd quarter worth $2,200,000. Finally, Barclays PLC raised its position in shares of Tenaris by 30,000.0% during the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company's stock valued at $192,000 after buying an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company's stock.

Tenaris Stock Performance

NYSE TS traded up $0.19 during trading on Friday, hitting $37.76. 1,128,313 shares of the company's stock traded hands, compared to its average volume of 1,285,957. The stock has a market capitalization of $21.95 billion, a price-to-earnings ratio of 8.23 and a beta of 1.46. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The business has a 50 day moving average of $37.04 and a 200-day moving average of $32.61.

Tenaris Cuts Dividend

The firm also recently announced 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. 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%.

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.