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

Shares of Tenaris S.A. (NYSE:TS) have received a consensus rating of “Hold” from the five analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.67.

Several research firms have recently weighed in on TS. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus lowered their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th.

Tenaris Stock Up 1.4 %

TS opened at $37.50 on Thursday. The firm has a 50-day moving average price of $32.31 and a 200-day moving average price of $31.50. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The company has a market capitalization of $21.80 billion, a price-to-earnings ratio of 8.17 and a beta of 1.43.

Tenaris Cuts Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th will be paid a $0.54 dividend. The ex-dividend date is Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris’s dividend payout ratio is presently 34.86%.

Institutional Investors Weigh In On Tenaris

Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Tenaris by 21.3% during the 3rd 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 during the period. Van ECK Associates Corp boosted its position in Tenaris by 10.9% in the second quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock worth $97,154,000 after purchasing an additional 313,185 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Tenaris by 46.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after purchasing an additional 819,500 shares during the period. Wellington Management Group LLP increased its position 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 valued at $80,943,000 after purchasing an additional 1,660,300 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Tenaris by 3.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after purchasing an additional 56,935 shares during the period. Institutional investors own 10.45% of the company’s stock.

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.