Piper Sandler Begins Coverage on Tenaris (NYSE:TS)

Piper Sandler started coverage on shares of Tenaris (NYSE:TS) in a research report report published on Thursday. The firm issued an overweight rating and a $48.00 price objective on the industrial products company’s stock.

Several other research analysts have also commented on the company. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $47.00 in a report on Monday, December 9th. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus cut their price objective on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Tenaris has an average rating of “Moderate Buy” and a consensus price target of $42.75.

Tenaris Price Performance

TS opened at $37.19 on Thursday. Tenaris has a fifty-two week low of $27.24 and a fifty-two week high of $40.72. The firm has a market capitalization of $21.62 billion, a PE ratio of 8.10 and a beta of 1.46. The company’s 50-day moving average is $35.85 and its 200 day moving average is $32.19.

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 given a dividend of $0.54 per share. The ex-dividend date was Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris’s dividend payout ratio (DPR) is presently 23.53%.

Hedge Funds Weigh In On Tenaris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its holdings in Tenaris by 69.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 482,376 shares of the industrial products company’s stock worth $14,722,000 after buying an additional 198,128 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Tenaris during the second quarter worth about $2,822,000. Mediolanum International Funds Ltd acquired a new position in shares of Tenaris in the third quarter worth about $17,129,000. Headlands Technologies LLC boosted its holdings in Tenaris by 1,885.8% in the second quarter. Headlands Technologies LLC now owns 31,494 shares of the industrial products company’s stock valued at $961,000 after purchasing an additional 29,908 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Tenaris during the 3rd quarter valued at approximately $380,000. 10.45% of the stock is 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.