Tenaris (NYSE:TS) Hits New 12-Month High at $39.97

Tenaris S.A. (NYSE:TS)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $39.97 and last traded at $39.77, with a volume of 84334 shares. The stock had previously closed at $39.54.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TS. Jefferies Financial Group downgraded Tenaris from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Bank of America assumed coverage on Tenaris in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock.

Tenaris Stock Performance

The stock has a fifty day simple moving average of $34.71 and a two-hundred day simple moving average of $33.75. The stock has a market cap of $23.46 billion, a price-to-earnings ratio of 5.99, a P/E/G ratio of 3.40 and a beta of 1.46.

Tenaris (NYSE:TS) last issued its earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.89. The firm had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.08 billion. Tenaris had a return on equity of 24.33% and a net margin of 26.35%. Equities analysts expect that Tenaris S.A. will post 4.17 earnings per share for the current fiscal year.

Tenaris Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 21st will be paid a $0.80 dividend. This is a boost from Tenaris’s previous Semi-Annual dividend of $0.68. The ex-dividend date is Monday, May 20th. Tenaris’s dividend payout ratio is presently 12.05%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TS. Bank of New York Mellon Corp raised its position in shares of Tenaris by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 20,773 shares of the industrial products company’s stock worth $625,000 after acquiring an additional 3,230 shares in the last quarter. American Century Companies Inc. purchased a new position in Tenaris in the first quarter valued at approximately $236,000. Citigroup Inc. lifted its stake in Tenaris by 65.9% in the first quarter. Citigroup Inc. now owns 5,236 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 2,080 shares during the last quarter. Yousif Capital Management LLC purchased a new position in Tenaris in the first quarter valued at approximately $275,000. Finally, Cibc World Market Inc. purchased a new stake in shares of Tenaris during the first quarter worth $1,542,000. 10.45% of the stock is currently owned by institutional investors.

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.