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

Tenaris S.A. (NYSE:TS) has been assigned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $40.75.

A number of research firms have recently weighed in on TS. Stifel Nicolaus dropped their target price 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. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and boosted their target price for the company from $35.00 to $47.00 in a research note on Monday, December 9th.

Institutional Trading of Tenaris

A number of hedge funds have recently modified their holdings of TS. Cubist Systematic Strategies LLC lifted its position in Tenaris by 69.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 482,376 shares of the industrial products company’s stock valued at $14,722,000 after acquiring an additional 198,128 shares during the period. QRG Capital Management Inc. boosted its position in shares of Tenaris by 7.3% in the 2nd quarter. QRG Capital Management Inc. now owns 31,200 shares of the industrial products company’s stock worth $952,000 after purchasing an additional 2,120 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Tenaris in the 2nd quarter worth approximately $2,822,000. Mediolanum International Funds Ltd bought a new position in Tenaris during the 3rd quarter valued at approximately $17,129,000. Finally, Headlands Technologies LLC raised its stake in Tenaris by 1,885.8% during the second quarter. Headlands Technologies LLC now owns 31,494 shares of the industrial products company’s stock valued at $961,000 after buying an additional 29,908 shares during the last quarter. Institutional investors own 10.45% of the company’s stock.

Tenaris Stock Up 0.2 %

Shares of TS opened at $38.58 on Monday. The stock has a market capitalization of $22.43 billion, a P/E ratio of 8.41 and a beta of 1.46. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The firm has a fifty day simple moving average of $35.31 and a two-hundred day simple moving average of $32.04.

Tenaris Cuts Dividend

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

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.