Tenaris (NYSE:TS) Raised 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.

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

Tenaris Price Performance

TS stock opened at $38.33 on Wednesday. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.72. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 8.35 and a beta of 1.43. The company has a 50-day moving average of $33.89 and a two-hundred day moving average of $31.73.

Tenaris Cuts Dividend

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

Institutional Investors Weigh In On Tenaris

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in Tenaris during the 2nd quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Tenaris in the 3rd quarter valued at $33,000. Covestor Ltd acquired a new position in Tenaris during the third quarter worth about $40,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Tenaris during the third quarter worth $67,000. Finally, Blue Trust Inc. boosted its stake in shares of Tenaris by 79.0% during the second quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 1,583 shares in the last quarter. 10.45% of the stock is owned by institutional investors.

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.