Tenaris (NYSE:TS) PT Lowered to $43.00

Tenaris (NYSE:TS) had its price objective reduced by Piper Sandler from $49.00 to $43.00 in a research report report published on Monday morning, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other brokerages have also recently weighed in on TS. Morgan Stanley cut Tenaris from an overweight rating to an underweight rating and set a $40.00 price objective on the stock. in a report on Thursday, April 18th. Bank of America began coverage on shares of Tenaris in a report on Tuesday, January 16th. They issued a neutral rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $41.60.

Tenaris Trading Up 2.9 %

Tenaris stock opened at $34.59 on Monday. Tenaris has a 1-year low of $24.69 and a 1-year high of $40.72. The firm has a market capitalization of $20.42 billion, a PE ratio of 5.77, a price-to-earnings-growth ratio of 2.59 and a beta of 1.51. The firm’s 50 day simple moving average is $37.63 and its 200 day simple moving average is $34.90.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.89. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.08 billion. Research analysts forecast that Tenaris will post 3.91 earnings per share for the current year.

Tenaris Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Investors 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 positive change from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s payout ratio is currently 26.67%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TS. Wellington Management Group LLP grew its stake in shares of Tenaris by 101.5% in the third quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company’s stock worth $27,723,000 after acquiring an additional 442,016 shares during the last quarter. Optiver Holding B.V. purchased a new stake in Tenaris during the 3rd quarter valued at about $2,862,000. Beck Bode LLC increased its stake in Tenaris by 2.3% during the 4th quarter. Beck Bode LLC now owns 35,112 shares of the industrial products company’s stock valued at $1,220,000 after purchasing an additional 782 shares in the last quarter. Graham Capital Management L.P. purchased a new position in Tenaris in the third quarter worth about $1,113,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Tenaris by 59.6% in the fourth quarter. Pacer Advisors Inc. now owns 525,993 shares of the industrial products company’s stock worth $18,284,000 after buying an additional 196,331 shares in the last quarter. 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.