Tenaris (NYSE:TS) Hits New 52-Week High – What’s Next?

Tenaris S.A. (NYSE:TS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.87 and last traded at $40.83, with a volume of 270210 shares trading hands. The stock had previously closed at $40.28.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TS. StockNews.com downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, March 22nd. Barclays increased their target price on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Stifel Nicolaus lifted their price target on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Piper Sandler upped their price target on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group raised Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Tenaris currently has an average rating of “Hold” and an average target price of $46.00.

Tenaris Stock Performance

The stock has a 50-day moving average of $38.34 and a two-hundred day moving average of $36.10. The company has a market cap of $22.71 billion, a P/E ratio of 10.82 and a beta of 1.43.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.31. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. Research analysts predict that Tenaris S.A. will post 3.14 EPS for the current 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 issued a $0.56 dividend. The ex-dividend date is Tuesday, May 20th. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s payout ratio is 31.02%.

Institutional Investors Weigh In On Tenaris

A number of institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc purchased a new position in Tenaris in the 4th quarter worth approximately $28,000. GAMMA Investing LLC increased its holdings in shares of Tenaris by 140.2% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 548 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tenaris in the third quarter worth $33,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Tenaris by 78.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 478 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Tenaris during the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.