Analysts Set Tenaris S.A. (NYSE:TS) Target Price at $42.75

Shares of Tenaris S.A. (NYSE:TS) have been given an average rating of “Hold” by the five research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $42.75.

A number of analysts have weighed in on TS shares. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Piper Sandler started 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. Finally, Stifel Nicolaus dropped their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th.

Tenaris Trading Up 0.5 %

TS stock opened at $37.76 on Friday. The stock’s 50 day simple moving average is $37.04 and its 200 day simple moving average is $32.62. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The firm has a market cap of $21.95 billion, a P/E ratio of 8.23 and a beta of 1.45.

Tenaris Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were paid 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%.

Institutional Trading of Tenaris

Several hedge funds have recently added to or reduced their stakes in TS. Allspring Global Investments Holdings LLC increased its holdings in shares of Tenaris by 36.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 377 shares during the period. GAMMA Investing LLC grew its position in Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after buying an additional 548 shares in the last quarter. Evergreen Capital Management LLC increased its stake in Tenaris by 3.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company’s stock valued at $608,000 after buying an additional 710 shares during the period. Versant Capital Management Inc bought a new stake in shares of Tenaris during the 4th quarter worth about $28,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris in the 3rd quarter worth approximately $33,000. Institutional investors 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.