Tenaris S.A. (NYSE:TS) Given Consensus Recommendation of “Hold” by Brokerages

Tenaris S.A. (NYSE:TS) has been given a consensus rating of “Hold” by the five analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $42.75.

TS has been the topic of several research analyst reports. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $47.00 in a research note on Monday, December 9th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Kepler Capital Markets cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus dropped their price objective 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 assumed coverage on shares of Tenaris in a report on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price for the company.

Tenaris Price Performance

Tenaris stock opened at $38.89 on Tuesday. The company’s 50-day moving average is $38.14 and its 200-day moving average is $33.48. The firm has a market capitalization of $22.61 billion, a PE ratio of 8.47 and a beta of 1.45. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72.

Tenaris Cuts Dividend

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

Hedge Funds Weigh In On Tenaris

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in shares of Tenaris by 21.3% during the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after acquiring an additional 614,884 shares during the period. Wellington Management Group LLP raised its stake in Tenaris by 187.4% in the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after purchasing an additional 1,660,300 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Tenaris by 102.5% during the third quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock worth $33,397,000 after purchasing an additional 531,860 shares during the period. Holocene Advisors LP acquired a new stake in Tenaris during the third quarter worth about $21,454,000. Finally, Mediolanum International Funds Ltd bought a new position in Tenaris in the 3rd quarter valued at about $17,129,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris

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.