Analysts Set Tenaris S.A. (NYSE:TS) Price Target at $38.67

Shares of Tenaris S.A. (NYSE:TS) have received a consensus recommendation of “Hold” from the five analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $38.67.

A number of brokerages recently issued reports on TS. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus decreased their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th.

Hedge Funds Weigh In On Tenaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Tenaris in the 2nd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tenaris during the third quarter valued at approximately $33,000. Covestor Ltd purchased a new position in shares of Tenaris during the third quarter valued at approximately $40,000. Headlands Technologies LLC boosted its position in shares of Tenaris by 1,486.0% in the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 1,486 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Tenaris by 79.0% in the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after buying an additional 1,583 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Stock Up 0.1 %

Shares of Tenaris stock opened at $37.00 on Thursday. The company’s fifty day simple moving average is $32.14 and its two-hundred day simple moving average is $31.49. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The firm has a market cap of $21.51 billion, a PE ratio of 8.06 and a beta of 1.43.

Tenaris Cuts Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th will be paid a $0.54 dividend. The ex-dividend date is 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.