Tenaris (NYSE:TS) Upgraded at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a research note released on Friday.

TS has been the subject of several other reports. Stifel Nicolaus decreased their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and increased their price target for the stock 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 set an “overweight” rating and a $48.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.75.

Tenaris Trading Up 0.5 %

NYSE TS opened at $37.76 on Friday. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The firm has a market capitalization of $21.95 billion, a P/E ratio of 8.23 and a beta of 1.45. The business has a fifty day simple moving average of $37.04 and a 200 day simple moving average of $32.62.

Tenaris Cuts Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders 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 yield of 3.6%. Tenaris’s dividend payout ratio is currently 23.53%.

Institutional Trading of Tenaris

A number of large investors have recently modified their holdings of TS. Wellington Management Group LLP increased its stake in Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after purchasing an additional 1,660,300 shares during the period. Renaissance Technologies LLC increased its stake in Tenaris by 46.2% in the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after purchasing an additional 819,500 shares during the period. Holocene Advisors LP purchased a new position in Tenaris in the 3rd quarter worth approximately $21,454,000. FMR LLC increased its stake in Tenaris by 21.3% in the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after purchasing an additional 614,884 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new position in Tenaris in the 3rd quarter worth approximately $17,129,000. Institutional investors own 10.45% of the company’s stock.

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.