Tenaris (NYSE:TS) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a report issued on Sunday.

Several other equities research analysts also recently issued reports on TS. Oddo Bhf raised shares of Tenaris to an “outperform” rating in a research note on Thursday, February 5th. The Goldman Sachs Group restated a “neutral” rating and set a $49.70 target price on shares of Tenaris in a research note on Monday, February 23rd. TD Cowen lifted their target price on Tenaris from $48.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Barclays reiterated an “overweight” rating and issued a $56.00 price target on shares of Tenaris in a research note on Monday, February 23rd. Finally, Morgan Stanley increased their price target on Tenaris from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Five investment 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, Tenaris has a consensus rating of “Hold” and a consensus target price of $50.45.

Tenaris Stock Up 3.7%

Shares of NYSE:TS opened at $55.81 on Friday. Tenaris has a 52-week low of $30.06 and a 52-week high of $56.15. The company has a 50 day moving average of $48.11 and a two-hundred day moving average of $41.46. The company has a market capitalization of $32.45 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.92 and a beta of 0.87.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. On average, equities analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Announces Dividend

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

Institutional Investors Weigh In On Tenaris

Several institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its stake in shares of Tenaris by 378.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,802 shares of the industrial products company’s stock valued at $69,000 after buying an additional 1,425 shares in the last quarter. Fearnley Asset Management AS bought a new position in Tenaris during the fourth quarter valued at approximately $1,846,000. Invesco Ltd. lifted its stake in Tenaris by 514.6% in the fourth quarter. Invesco Ltd. now owns 546,204 shares of the industrial products company’s stock valued at $21,002,000 after acquiring an additional 457,332 shares during the last quarter. XTX Topco Ltd lifted its stake in Tenaris by 735.7% in the fourth quarter. XTX Topco Ltd now owns 101,844 shares of the industrial products company’s stock valued at $3,916,000 after acquiring an additional 89,657 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Tenaris by 25.6% in the fourth quarter. Wellington Management Group LLP now owns 2,682,137 shares of the industrial products company’s stock worth $103,128,000 after acquiring an additional 546,144 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.