Tenaris (NYSE:TS) Hits New 12-Month High – Here’s Why

Tenaris S.A. (NYSE:TS) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $40.87 and last traded at $40.83, with a volume of 270210 shares changing hands. The stock had previously closed at $40.28.

Wall Street Analyst Weigh In

TS has been the topic of several research analyst reports. StockNews.com cut shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday, March 22nd. Barclays increased their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Stifel Nicolaus lifted their price objective on shares of Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Piper Sandler lifted their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Stock Down 1.5 %

The company has a fifty day moving average price of $38.34 and a 200 day moving average price of $36.10. The stock has a market cap of $22.71 billion, a PE ratio of 10.82 and a beta of 1.43.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The business had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, research analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, May 20th. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio is presently 31.02%.

Hedge Funds Weigh In On Tenaris

Several hedge funds and other institutional investors have recently modified their holdings of TS. Exencial Wealth Advisors LLC raised its position in Tenaris by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company’s stock valued at $1,905,000 after purchasing an additional 270 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of Tenaris by 0.4% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock valued at $3,696,000 after buying an additional 386 shares during the period. Signaturefd LLC increased its stake in shares of Tenaris by 2.3% during the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company’s stock valued at $705,000 after buying an additional 418 shares during the period. Covestor Ltd raised its holdings in shares of Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock valued at $65,000 after acquiring an additional 469 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 478 shares during the period. 10.45% of the stock is owned by institutional investors.

Tenaris Company Profile

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.