Tenaris (NYSE:TS) Hits New 1-Year High – Here’s Why

Shares of Tenaris S.A. (NYSE:TS) hit a new 52-week high on Tuesday . The stock traded as high as $59.10 and last traded at $59.0920, with a volume of 198607 shares changing hands. The stock had previously closed at $57.20.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $49.70 price target on shares of Tenaris in a report on Monday, February 23rd. TD Cowen reaffirmed a “buy” rating on shares of Tenaris in a report on Wednesday, March 18th. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Wall Street Zen downgraded shares of Tenaris from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Oddo Bhf upgraded shares of Tenaris to an “outperform” rating in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.45.

Tenaris Trading Down 0.5%

The company has a market cap of $31.03 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 2.04 and a beta of 0.81. The business has a fifty day moving average of $51.56 and a two-hundred day moving average of $43.09.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Sunday, February 15th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.Tenaris’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. On average, research analysts forecast that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 20th. Investors of record on Tuesday, May 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a yield of 450.0%. Tenaris’s dividend payout ratio (DPR) is currently 31.78%.

Hedge Funds Weigh In On Tenaris

A number of large investors have recently added to or reduced their stakes in TS. AQR Capital Management LLC grew its position in shares of Tenaris by 14.3% in the first quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock valued at $925,000 after purchasing an additional 2,969 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Tenaris during the 1st quarter worth about $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of Tenaris during the 1st quarter worth about $5,458,000. JPMorgan Chase & Co. lifted its stake in Tenaris by 77.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,877 shares of the industrial products company’s stock valued at $631,000 after buying an additional 7,363 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Tenaris by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock valued at $314,000 after buying an additional 338 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors and hedge funds.

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.