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

Shares of Tenaris S.A. (NYSE:TS) reached a new 52-week high during trading on Tuesday . The company traded as high as $59.10 and last traded at $59.0920, with a volume of 198607 shares. The stock had previously closed at $57.20.

Analyst Upgrades and Downgrades

TS has been the subject of several research analyst reports. Barclays restated an “overweight” rating and set a $56.00 price target on shares of Tenaris in a research note on Monday, February 23rd. TD Cowen reiterated a “buy” rating on shares of Tenaris in a report on Wednesday, March 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a research report on Friday. Stifel Nicolaus lifted their price target on shares of Tenaris from $45.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Finally, Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.45.

Tenaris Stock Performance

The stock has a fifty day simple moving average of $50.97 and a two-hundred day simple moving average of $42.83. The stock has a market cap of $31.59 billion, a PE ratio of 16.15, a PEG ratio of 2.04 and a beta of 0.87.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Sunday, February 15th. The industrial products company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a net margin of 16.13% and a return on equity of 11.32%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new stake in Tenaris during the 3rd quarter worth approximately $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Tenaris during the 4th quarter valued at approximately $48,000. Raymond James Financial Inc. acquired a new stake in shares of Tenaris during the second quarter worth approximately $49,000. Farther Finance Advisors LLC increased its stake in shares of Tenaris by 100.6% in the third quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock worth $52,000 after buying an additional 725 shares during the last quarter. Finally, CWM LLC raised its holdings in Tenaris by 57.7% in the third quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 571 shares in the last quarter. Hedge funds and other 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.