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

Shares of Tenaris S.A. (NYSE:TS) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $40.75.

TS has been the subject of a number of recent analyst reports. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $47.00 in a research note on Monday. 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. Finally, StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th.

Tenaris Trading Up 1.5 %

NYSE TS opened at $39.08 on Monday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The company has a market cap of $22.72 billion, a PE ratio of 8.52 and a beta of 1.46. The stock’s 50-day moving average price is $34.94 and its two-hundred day moving average price is $31.91.

Tenaris Cuts Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th were issued 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 23.53%.

Hedge Funds Weigh In On Tenaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in shares of Tenaris by 187.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after purchasing an additional 1,660,300 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Tenaris by 46.2% in the second quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock worth $79,109,000 after purchasing an additional 819,500 shares in the last quarter. Holocene Advisors LP acquired a new position in Tenaris during the third quarter worth $21,454,000. FMR LLC raised its holdings in Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after buying an additional 614,884 shares in the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Tenaris in the third quarter worth about $17,129,000. 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.