Tenaris S.A. (NYSE:TS) to Issue Semi-Annual Dividend of $0.56

Tenaris S.A. (NYSE:TSGet Rating) declared a Semi-Annual dividend on Tuesday, May 3rd, Zacks reports. Stockholders of record on Tuesday, May 24th will be given a dividend of 0.56 per share by the industrial products company on Wednesday, May 25th. The ex-dividend date is Monday, May 23rd. This is a positive change from Tenaris’s previous Semi-Annual dividend of $0.28.

Tenaris has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tenaris to earn $3.73 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 13.9%.

Tenaris stock opened at $32.35 on Friday. Tenaris has a fifty-two week low of $18.80 and a fifty-two week high of $33.63. The firm has a market capitalization of $18.94 billion, a PE ratio of 12.74, a P/E/G ratio of 0.33 and a beta of 1.51. The company’s 50-day moving average is $30.62 and its 200-day moving average is $25.96.

Tenaris (NYSE:TSGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The industrial products company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.17. Tenaris had a net margin of 19.42% and a return on equity of 12.38%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.35 billion. Sell-side analysts anticipate that Tenaris will post 3.57 earnings per share for the current fiscal year.

A number of research analysts recently commented on TS shares. Morgan Stanley upped their price target on shares of Tenaris from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 11th. Credit Suisse Group upped their price target on shares of Tenaris from €8.20 ($8.54) to €8.80 ($9.17) and gave the company an “underperform” rating in a research note on Monday, April 4th. StockNews.com assumed coverage on shares of Tenaris in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research raised shares of Tenaris from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a report on Thursday, February 24th. Finally, Piper Sandler boosted their price objective on shares of Tenaris from $52.00 to $60.00 in a report on Friday, April 29th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tenaris has a consensus rating of “Buy” and a consensus price target of $31.09.

Several institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Tenaris by 3,518.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,523,751 shares of the industrial products company’s stock worth $45,819,000 after acquiring an additional 1,481,638 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Tenaris by 59.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 826,211 shares of the industrial products company’s stock worth $17,234,000 after acquiring an additional 309,434 shares during the period. BlackRock Inc. lifted its holdings in shares of Tenaris by 5.8% during the 4th quarter. BlackRock Inc. now owns 606,165 shares of the industrial products company’s stock worth $12,645,000 after acquiring an additional 33,115 shares during the period. Invesco Ltd. lifted its holdings in shares of Tenaris by 9.2% during the 1st quarter. Invesco Ltd. now owns 356,627 shares of the industrial products company’s stock worth $10,724,000 after acquiring an additional 30,036 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Tenaris during the 1st quarter worth approximately $8,910,000. 8.47% of the stock is owned by institutional investors.

About Tenaris (Get Rating)

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.

Further Reading

Dividend History for Tenaris (NYSE:TS)

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