Tenaris (NYSE:TS) Sets New 52-Week High – Here’s What Happened

Tenaris S.A. (NYSE:TS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.45 and last traded at $43.4860, with a volume of 22420 shares. The stock had previously closed at $42.35.

Analyst Upgrades and Downgrades

TS has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Saturday. Cowen reissued a “buy” rating on shares of Tenaris in a research note on Wednesday, January 7th. Morgan Stanley set a $38.00 target price on Tenaris and gave the stock an “underweight” rating in a research report on Wednesday. The Goldman Sachs Group initiated coverage on Tenaris in a report on Monday, December 15th. They issued a “neutral” rating and a $43.60 target price on the stock. Finally, BNP Paribas Exane restated a “neutral” rating on shares of Tenaris in a research note on Friday, October 10th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $42.72.

Tenaris Trading Up 2.7%

The company has a market capitalization of $25.30 billion, a P/E ratio of 11.69 and a beta of 0.96. The company’s 50 day moving average is $40.05 and its 200-day moving average is $37.76.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Tenaris had a net margin of 16.91% and a return on equity of 11.72%. Tenaris’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. Analysts predict that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, November 26th. Investors of record on Tuesday, November 25th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a dividend yield of 291.0%. Tenaris’s dividend payout ratio (DPR) is 31.18%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TS. Signaturefd LLC lifted its position in Tenaris by 2.5% during the fourth quarter. Signaturefd LLC now owns 18,584 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 454 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Tenaris by 103.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 24,870 shares of the industrial products company’s stock worth $956,000 after buying an additional 12,653 shares during the period. Baron Wealth Management LLC lifted its position in shares of Tenaris by 8.9% during the 4th quarter. Baron Wealth Management LLC now owns 6,563 shares of the industrial products company’s stock valued at $252,000 after buying an additional 534 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Tenaris by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock valued at $616,000 after acquiring an additional 352 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Tenaris in the 3rd quarter worth approximately $47,000. Institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

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.