Tenaris (NYSE:TS) Upgraded at StockNews.com

StockNews.com upgraded shares of Tenaris (NYSE:TS) from a hold rating to a buy rating in a report issued on Friday.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday, February 21st. Piper Sandler lifted their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 25th. Barclays lifted their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and raised their price objective for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tenaris presently has an average rating of “Hold” and an average price target of $46.00.

Tenaris Stock Performance

NYSE TS opened at $38.54 on Friday. The firm has a market cap of $22.40 billion, a PE ratio of 10.67 and a beta of 1.43. Tenaris has a one year low of $27.24 and a one year high of $40.72. The firm’s fifty day moving average is $38.18 and its two-hundred day moving average is $35.54.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.31. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. Research analysts predict that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be issued a $0.56 dividend. This is a positive change from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris’s dividend payout ratio is presently 31.02%.

Institutional Trading of Tenaris

Institutional investors and hedge funds have recently made changes to their positions in the business. CSS LLC IL boosted its stake in shares of Tenaris by 33.4% during the 4th quarter. CSS LLC IL now owns 38,680 shares of the industrial products company’s stock worth $1,462,000 after buying an additional 9,680 shares during the last quarter. Vident Advisory LLC raised its holdings in Tenaris by 11.0% in the 4th quarter. Vident Advisory LLC now owns 12,713 shares of the industrial products company’s stock valued at $480,000 after acquiring an additional 1,259 shares during the period. Thornburg Investment Management Inc. bought a new position in shares of Tenaris during the fourth quarter worth approximately $796,000. Silvercrest Asset Management Group LLC increased its holdings in shares of Tenaris by 0.4% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock worth $3,696,000 after purchasing an additional 386 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Tenaris by 106.7% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 2,150 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 1,110 shares during the period. 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.