Tenaris (NYSE:TS) Upgraded at StockNews.com

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

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

Tenaris Stock Up 0.6 %

NYSE TS opened at $38.33 on Wednesday. The company has a market capitalization of $22.28 billion, a P/E ratio of 8.35 and a beta of 1.43. The stock’s 50-day moving average price is $33.89 and its 200-day moving average price is $31.73. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72.

Tenaris Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TS. Allspring Global Investments Holdings LLC acquired a new position in Tenaris in the 2nd quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tenaris during the 3rd quarter valued at approximately $33,000. Covestor Ltd acquired a new stake in shares of Tenaris in the 3rd quarter valued at about $40,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tenaris during the 3rd quarter valued at approximately $67,000. Finally, Blue Trust Inc. lifted its holdings 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 purchasing an additional 1,583 shares during the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.