StockNews.com Downgrades Tenaris (NYSE:TS) to Hold

StockNews.com lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a research note published on Saturday.

Other equities research analysts have also issued research reports about the company. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Friday, January 17th. Barclays boosted their target price on Tenaris from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Stifel Nicolaus lifted their price target on shares of Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Finally, Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and increased their target price for the company from $35.00 to $47.00 in a report on Monday, December 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.00.

Tenaris Stock Up 0.7 %

Shares of NYSE TS opened at $39.64 on Friday. The business has a 50-day simple moving average of $38.29 and a two-hundred day simple moving average of $35.97. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.73. The company has a market cap of $23.04 billion, a P/E ratio of 10.98 and a beta of 1.43.

Tenaris (NYSE:TS) last issued its quarterly earnings data 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. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.71 billion. Equities research analysts anticipate that Tenaris will post 3.14 EPS 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 boost 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 (DPR) is currently 31.02%.

Institutional Investors Weigh In On Tenaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after acquiring an additional 614,884 shares during the last quarter. Millennium Management LLC lifted its holdings in Tenaris by 38.2% in the 4th quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company’s stock worth $106,444,000 after buying an additional 778,021 shares during the period. Wellington Management Group LLP grew its position in shares of Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after buying an additional 1,660,300 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of Tenaris during the fourth quarter valued at approximately $41,569,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of Tenaris by 102.5% during the third quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock valued at $33,397,000 after acquiring an additional 531,860 shares in the last quarter. 10.45% of the stock is currently owned by institutional investors.

Tenaris Company Profile

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.