Tenaris (NYSE:TS) Stock Rating Upgraded by StockNews.com

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

A number of other research firms also recently weighed in on TS. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and raised their price target for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Stifel Nicolaus decreased their target price on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Piper Sandler started coverage on shares of Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.75.

Tenaris Price Performance

Tenaris stock opened at $38.62 on Friday. The company has a market cap of $22.45 billion, a price-to-earnings ratio of 8.41 and a beta of 1.45. The firm has a 50-day moving average of $37.97 and a 200-day moving average of $33.17. Tenaris has a one year low of $27.24 and a one year high of $40.72.

Tenaris Cuts Dividend

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

Hedge Funds Weigh In On Tenaris

Several institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc bought a new stake in shares of Tenaris during the fourth quarter worth approximately $28,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris during the 3rd quarter worth approximately $33,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 548 shares during the period. Covestor Ltd acquired a new position in Tenaris in the 3rd quarter valued at $40,000. Finally, Allspring Global Investments Holdings LLC increased its position in Tenaris by 36.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after buying an additional 377 shares during the period. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.