Tenaris (NYSE:TS) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a report published on Saturday.

Other research analysts have also issued reports about the stock. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Stifel Nicolaus raised 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. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Piper Sandler lifted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Finally, Barclays lifted their price target on shares of Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Tenaris currently has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Price Performance

Tenaris stock opened at $39.36 on Friday. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.73. The company has a market capitalization of $22.88 billion, a price-to-earnings ratio of 10.90 and a beta of 1.43. The firm’s fifty day moving average price is $38.27 and its 200 day moving average price is $35.84.

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

Tenaris Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Tenaris by 21.3% during the 3rd quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after purchasing an additional 614,884 shares during the period. Millennium Management LLC boosted its stake in Tenaris by 38.2% during the 4th quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company’s stock valued at $106,444,000 after purchasing an additional 778,021 shares during the period. Wellington Management Group LLP boosted its stake in Tenaris by 187.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after purchasing an additional 1,660,300 shares during the period. Encompass Capital Advisors LLC acquired a new position in Tenaris during the 4th quarter valued at about $41,569,000. Finally, Point72 Asset Management L.P. boosted its stake in Tenaris by 102.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock valued at $33,397,000 after purchasing an additional 531,860 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

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.