Tenaris (NYSE:TS) Reaches New 12-Month High – Time to Buy?

Tenaris S.A. (NYSE:TS) hit a new 52-week high on Wednesday . The company traded as high as $54.69 and last traded at $54.1560, with a volume of 204344 shares. The stock had previously closed at $54.09.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley boosted their price objective on Tenaris from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday. Wall Street Zen cut shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Barclays restated an “overweight” rating and set a $56.00 price objective on shares of Tenaris in a research report on Monday. Stifel Nicolaus upped their target price on shares of Tenaris from $45.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Oddo Bhf upgraded shares of Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.45.

Tenaris Stock Performance

The business has a 50-day simple moving average of $43.60 and a 200 day simple moving average of $39.58. The firm has a market cap of $31.56 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.91 and a beta of 0.95.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. Tenaris’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 19th will be given a $1.20 dividend. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Tenaris’s payout ratio is currently 31.78%.

Institutional Trading of Tenaris

Several institutional investors have recently bought and sold shares of the company. Sourcerock Group LLC boosted its stake in Tenaris by 25.9% during the 2nd quarter. Sourcerock Group LLC now owns 3,086,075 shares of the industrial products company’s stock valued at $115,419,000 after purchasing an additional 635,817 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of Tenaris by 186.8% in the third quarter. Optiver Holding B.V. now owns 905,328 shares of the industrial products company’s stock worth $32,384,000 after purchasing an additional 589,625 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Tenaris by 25.6% during the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock valued at $103,128,000 after buying an additional 546,144 shares during the last quarter. Invesco Ltd. boosted its position in shares of Tenaris by 514.6% during the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock valued at $21,002,000 after buying an additional 457,332 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Tenaris by 25.4% in the 4th quarter. Van ECK Associates Corp now owns 2,019,185 shares of the industrial products company’s stock worth $77,638,000 after buying an additional 408,592 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.