Tenaris S.A. (TS) Stock Rating Reaffirmed by Simmons
Tenaris S.A. (NYSE:TS)‘s stock had its “overweight” rating reissued by analysts at Simmons in a research note issued to investors on Wednesday. They currently have a $35.50 price target on the industrial products company’s stock, down from their prior price target of $39.00. Simmons’ price objective indicates a potential upside of 17.12% from the company’s current price.
Several other equities analysts have also commented on the company. Morgan Stanley reissued an “overweight” rating and set a $38.00 price target (down from $44.00) on shares of Tenaris in a research report on Wednesday. Loop Capital raised Tenaris from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Wednesday, May 17th. Scotiabank reissued a “buy” rating and set a $40.00 price target on shares of Tenaris in a research report on Monday, May 1st. Zacks Investment Research raised Tenaris from a “strong sell” rating to a “hold” rating in a research report on Saturday, April 29th. Finally, Evercore ISI raised Tenaris from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Monday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Tenaris presently has a consensus rating of “Hold” and a consensus price target of $37.44.
Shares of Tenaris (NYSE TS) traded down 1.15% during mid-day trading on Wednesday, reaching $29.96. 3,909,152 shares of the company traded hands. The company has a market capitalization of $17.68 billion, a P/E ratio of 73.07 and a beta of 0.70. The firm’s 50 day moving average price is $31.01 and its 200-day moving average price is $33.19. Tenaris has a 52-week low of $25.19 and a 52-week high of $37.21.
The firm also recently announced a dividend, which was paid on Tuesday, May 23rd. Shareholders of record on Tuesday, May 23rd were given a $0.56 dividend. This is a positive change from Tenaris’s previous dividend of $0.26. The ex-dividend date was Monday, May 22nd. Tenaris’s dividend payout ratio is presently 266.67%.
Several institutional investors have recently made changes to their positions in TS. Harding Loevner LP raised its position in shares of Tenaris by 3.7% in the third quarter. Harding Loevner LP now owns 15,270,498 shares of the industrial products company’s stock worth $433,683,000 after buying an additional 549,649 shares during the last quarter. Westwood Global Investments LLC raised its position in shares of Tenaris by 1.8% in the fourth quarter. Westwood Global Investments LLC now owns 8,303,006 shares of the industrial products company’s stock worth $296,500,000 after buying an additional 142,804 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of Tenaris during the fourth quarter worth about $169,240,000. Kiltearn Partners LLP raised its position in shares of Tenaris by 1.9% in the fourth quarter. Kiltearn Partners LLP now owns 4,479,296 shares of the industrial products company’s stock worth $159,956,000 after buying an additional 84,696 shares during the last quarter. Finally, Kiltearn Partners raised its position in shares of Tenaris by 15.9% in the fourth quarter. Kiltearn Partners now owns 3,655,900 shares of the industrial products company’s stock worth $87,010,000 after buying an additional 500,400 shares during the last quarter. 18.74% of the stock is currently owned by institutional investors.
Tenaris SA is a holding company, which is a steel producer with production facilities in Mexico, Argentina, Colombia, United States and Guatemala. The Company supplies round steel bars and flat steel products for its pipes business. It operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods (OCTG) used in drilling operations, and for other industrial applications with production processes that include in the transformation of steel into tubular products.
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