Tenaris (NYSE:TS) Sets New 12-Month High – Here’s What Happened

Tenaris S.A. (NYSE:TS) shares reached a new 52-week high on Wednesday . The company traded as high as $43.45 and last traded at $43.4860, with a volume of 22420 shares trading hands. The stock had previously closed at $42.35.

Analyst Upgrades and Downgrades

TS has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Tenaris in a research report on Monday, December 15th. They issued a “neutral” rating and a $43.60 price objective on the stock. Piper Sandler reissued a “neutral” rating on shares of Tenaris in a report on Thursday, December 18th. TD Cowen reaffirmed a “buy” rating on shares of Tenaris in a report on Wednesday, January 7th. Stifel Nicolaus boosted their target price on shares of Tenaris from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tenaris presently has an average rating of “Hold” and a consensus target price of $42.72.

Tenaris Trading Up 0.2%

The business’s 50 day simple moving average is $40.18 and its 200 day simple moving average is $37.85. The firm has a market capitalization of $25.77 billion, a PE ratio of 11.91 and a beta of 0.96.

Tenaris (NYSE:TS) last announced its earnings results on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Tenaris had a return on equity of 11.72% and a net margin of 16.91%.The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. Analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 25th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, November 25th. This represents a dividend yield of 291.0%. Tenaris’s dividend payout ratio is currently 31.18%.

Hedge Funds Weigh In On Tenaris

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its position in Tenaris by 1,994.8% during the second quarter. Osaic Holdings Inc. now owns 36,722 shares of the industrial products company’s stock valued at $1,434,000 after purchasing an additional 34,969 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Tenaris during the second quarter valued at about $1,122,000. Jump Financial LLC purchased a new stake in shares of Tenaris during the second quarter valued at about $9,380,000. New York State Common Retirement Fund bought a new stake in shares of Tenaris in the 2nd quarter valued at about $1,539,000. Finally, Bayforest Capital Ltd purchased a new position in shares of Tenaris in the 2nd quarter worth approximately $605,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

About Tenaris

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.