Tenaris (NYSE:TS) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a report released on Wednesday morning.

Separately, Stifel Nicolaus decreased their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Tenaris has an average rating of “Hold” and an average target price of $38.67.

Tenaris Stock Up 1.3 %

TS opened at $38.09 on Wednesday. The firm has a market cap of $22.14 billion, a P/E ratio of 8.30 and a beta of 1.43. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The business’s fifty day simple moving average is $33.54 and its 200 day simple moving average is $31.68.

Tenaris Cuts Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were paid a $0.54 dividend. This represents a yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris’s payout ratio is 23.53%.

Hedge Funds Weigh In On Tenaris

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Tenaris in the 2nd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tenaris in the 3rd quarter worth about $33,000. Covestor Ltd purchased a new position in shares of Tenaris in the 3rd quarter worth about $40,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Tenaris during the 3rd quarter valued at about $67,000. Finally, Blue Trust Inc. raised its holdings in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after buying an additional 1,583 shares during the period. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.