Tenaris (TS) Receives New Coverage from Analysts at Barclays
Barclays began coverage on shares of Tenaris (NYSE:TS) in a report published on Wednesday morning. The brokerage issued an overweight rating and a $39.00 price objective on the industrial products company’s stock.
Several other research analysts have also recently issued reports on TS. TheStreet upgraded Tenaris from a c rating to a b- rating in a research note on Tuesday, December 12th. Loop Capital raised their price objective on Tenaris from $36.00 to $37.00 and gave the stock a buy rating in a research note on Friday, November 3rd. Macquarie upgraded Tenaris from an underperform rating to a neutral rating in a research note on Friday, November 17th. Finally, Cowen set a $28.00 price objective on Tenaris and gave the stock a hold rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $35.75.
Shares of Tenaris (NYSE:TS) traded up $0.58 during midday trading on Wednesday, reaching $31.18. The company’s stock had a trading volume of 2,160,500 shares, compared to its average volume of 2,063,376. The firm has a market capitalization of $18,062.20, a P/E ratio of 55.64 and a beta of 0.65. Tenaris has a fifty-two week low of $25.91 and a fifty-two week high of $37.21.
The company also recently disclosed a dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 21st were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 20th. Tenaris’s payout ratio is 72.22%.
Several large investors have recently made changes to their positions in TS. Harding Loevner LP raised its stake in shares of Tenaris by 308.3% in the third quarter. Harding Loevner LP now owns 59,606,642 shares of the industrial products company’s stock worth $378,234,000 after purchasing an additional 45,007,915 shares during the last quarter. Westwood Holdings Group Inc. raised its position in Tenaris by 32.8% during the second quarter. Westwood Holdings Group Inc. now owns 1,562,694 shares of the industrial products company’s stock valued at $48,662,000 after acquiring an additional 386,132 shares in the last quarter. Van ECK Associates Corp raised its position in Tenaris by 9.1% during the third quarter. Van ECK Associates Corp now owns 3,608,913 shares of the industrial products company’s stock valued at $102,168,000 after acquiring an additional 300,807 shares in the last quarter. DSAM Partners London Ltd purchased a new position in Tenaris during the third quarter valued at approximately $4,784,000. Finally, JPMorgan Chase & Co. raised its position in Tenaris by 8,750.8% during the third quarter. JPMorgan Chase & Co. now owns 137,630 shares of the industrial products company’s stock valued at $3,897,000 after acquiring an additional 136,075 shares in the last quarter. Hedge funds and other institutional investors own 15.08% of the company’s stock.
Tenaris Company Profile
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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