Tenaris (NYSE:TS) Upgraded at Jefferies Financial Group

by · The Markets Daily

Jefferies Financial Group upgraded shares of Tenaris (NYSE:TS – Free Report) from a hold rating to a buy rating in a report released on Monday, Marketbeat Ratings reports. The firm currently has $47.00 price objective on the industrial products company’s stock, up from their previous price objective of $35.00.

Several other research firms also recently issued reports on TS. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Stifel Nicolaus dropped their target price on Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.75.

View Our Latest Report on TS

Tenaris Trading Up 1.5 %

Tenaris stock opened at $39.08 on Monday. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 8.51 and a beta of 1.46. The business’s 50 day simple moving average is $34.94 and its 200 day simple moving average is $31.91. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72.

Tenaris Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th were given a $0.54 dividend. 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%.

Institutional Investors Weigh In On Tenaris

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC raised its holdings in shares of 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 buying an additional 198,128 shares in the last quarter. QRG Capital Management Inc. lifted its holdings 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 acquiring an additional 2,120 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Tenaris in the 2nd quarter worth approximately $2,822,000. Mediolanum International Funds Ltd bought a new stake in shares of Tenaris in the 3rd quarter worth approximately $17,129,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Tenaris by 1,885.8% in the 2nd quarter. Headlands Technologies LLC now owns 31,494 shares of the industrial products company’s stock worth $961,000 after acquiring an additional 29,908 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

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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.

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