Stifel Nicolaus Issues Positive Forecast for Tenaris (NYSE:TS) Stock Price

Tenaris (NYSE:TS) had its target price hoisted by Stifel Nicolaus from $40.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler began coverage on shares of Tenaris in a research note on Thursday, December 19th. They issued an “overweight” rating and a $48.00 target price for the company. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research report on Thursday. Kepler Capital Markets lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and boosted their price target for the company from $35.00 to $47.00 in a report on Monday, December 9th. Finally, Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.50.

Tenaris Price Performance

TS stock opened at $37.72 on Friday. The company’s 50 day simple moving average is $38.33 and its 200-day simple moving average is $34.41. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The firm has a market capitalization of $21.93 billion, a PE ratio of 10.45 and a beta of 1.44.

Tenaris (NYSE:TS) last announced its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The business also recently declared 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 positive change from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio (DPR) is 29.92%.

Institutional Trading of Tenaris

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Crossmark Global Holdings Inc. grew its position in Tenaris by 61.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after acquiring an additional 13,374 shares during the period. GAMMA Investing LLC lifted its stake 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 valued at $35,000 after purchasing an additional 548 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Tenaris during the 3rd quarter worth about $17,129,000. International Assets Investment Management LLC acquired a new stake in Tenaris during the 3rd quarter worth approximately $380,000. Finally, Concentric Capital Strategies LP purchased a new position in Tenaris in the third quarter valued at approximately $1,163,000. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.