Tenaris (NYSE:TS) Shares Gap Down to $37.39

Shares of Tenaris S.A. (NYSE:TS) gapped down before the market opened on Friday . The stock had previously closed at $37.39, but opened at $35.40. Tenaris shares last traded at $34.95, with a volume of 1,423,335 shares trading hands.

Wall Street Analysts Forecast Growth

TS has been the subject of several analyst reports. Jefferies Financial Group downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Morgan Stanley cut shares of Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research report on Thursday, April 18th. Finally, Bank of America began coverage on Tenaris in a report on Tuesday, January 16th. They set a “neutral” rating on the stock.

Tenaris Stock Performance

The firm has a market cap of $20.43 billion, a P/E ratio of 5.26, a PEG ratio of 2.32 and a beta of 1.47. The company has a 50 day moving average of $37.73 and a 200 day moving average of $34.84.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.03 by $0.89. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Tenaris had a return on equity of 24.33% and a net margin of 26.35%. As a group, analysts expect that Tenaris S.A. will post 4.06 EPS for the current fiscal year.

Tenaris Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 21st will be given a dividend of $0.80 per share. The ex-dividend date is Monday, May 20th. This is a boost from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s dividend payout ratio is presently 12.05%.

Institutional Investors Weigh In On Tenaris

Large investors have recently added to or reduced their stakes in the stock. KLR Investment Advisors LLC bought a new stake in shares of Tenaris in the first quarter valued at approximately $692,000. Raymond James & Associates boosted its position in shares of Tenaris by 1.1% in the first quarter. Raymond James & Associates now owns 143,691 shares of the industrial products company’s stock valued at $5,643,000 after acquiring an additional 1,570 shares during the period. Harbour Capital Advisors LLC bought a new stake in shares of Tenaris in the first quarter valued at approximately $449,000. Capital Insight Partners LLC boosted its position in shares of Tenaris by 12.3% in the first quarter. Capital Insight Partners LLC now owns 96,023 shares of the industrial products company’s stock valued at $3,771,000 after acquiring an additional 10,555 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Tenaris by 4.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,258 shares of the industrial products company’s stock valued at $1,149,000 after acquiring an additional 1,359 shares during the period. Institutional investors own 10.45% of the company’s stock.

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.