Tenaris (NYSE:TS) Sets 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. The stock had previously closed at $40.28.

Analysts Set New Price Targets

TS has been the topic of several research reports. Stifel Nicolaus increased their price target on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. Barclays upped their price objective on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. StockNews.com cut Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and upped their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.00.

Tenaris Stock Performance

The company has a market capitalization of $23.58 billion, a PE ratio of 11.23 and a beta of 1.43. The business has a fifty day moving average price of $38.31 and a 200 day moving average price of $36.05.

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

Tenaris Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TS. Crossmark Global Holdings Inc. grew its stake in shares of Tenaris by 61.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 13,374 shares in the last quarter. GAMMA Investing LLC grew its position in Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 548 shares in the last quarter. ABC Arbitrage SA acquired a new stake in Tenaris in the fourth quarter valued at approximately $31,581,000. Proficio Capital Partners LLC acquired a new position in shares of Tenaris during the fourth quarter worth $968,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Tenaris by 291.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 1,284 shares during the period. 10.45% of the stock is owned by hedge funds and other 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.