Tenaris S.A. (TS) to Issue Semi-annual Dividend of $0.56 on May 21st

Tenaris S.A. (NYSE:TS) announced a semi-annual dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Tuesday, May 20th will be given a dividend of 0.56 per share by the industrial products company on Wednesday, May 21st. The ex-dividend date of this dividend is Tuesday, May 20th. This is a 3.7% increase from Tenaris’s previous semi-annual dividend of $0.54.

Tenaris has increased its dividend by an average of 35.4% per year over the last three years. Tenaris has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tenaris to earn $3.32 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 32.5%.

Tenaris Stock Down 1.2%

Shares of TS stock opened at $34.09 on Friday. The stock has a market capitalization of $19.82 billion, a PE ratio of 9.44 and a beta of 1.27. Tenaris has a 52-week low of $27.24 and a 52-week high of $40.87. The stock’s 50-day moving average price is $35.08 and its 200 day moving average price is $36.84.

Tenaris (NYSE:TS) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.14. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.88 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. Analysts expect that Tenaris will post 3.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on TS. Bank of America cut Tenaris from a “neutral” rating to an “underperform” rating in a research report on Wednesday, January 29th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Morgan Stanley dropped their target price on Tenaris from $35.00 to $34.00 and set an “underweight” rating on the stock in a research report on Friday. Stifel Nicolaus dropped their target price on Tenaris from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, BNP Paribas started coverage on Tenaris in a research report on Tuesday, April 22nd. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Institutional Investors Weigh In On Tenaris

A hedge fund recently bought a new stake in Tenaris stock. Integrated Wealth Concepts LLC purchased a new position in shares of Tenaris S.A. (NYSE:TS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,186 shares of the industrial products company’s stock, valued at approximately $203,000. Institutional investors own 10.45% of the company’s stock.

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.