Tenaris (NYSE:TS) Hits New 52-Week High – Here’s What Happened

Tenaris S.A. (NYSE:TS) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.84 and last traded at $59.8030, with a volume of 114263 shares trading hands. The stock had previously closed at $58.64.

Wall Street Analyst Weigh In

TS has been the topic of several research analyst reports. Wall Street Zen raised Tenaris from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. Oddo Bhf raised Tenaris to an “outperform” rating in a research note on Thursday, February 5th. TD Cowen reissued a “buy” rating on shares of Tenaris in a research note on Wednesday, March 18th. The Goldman Sachs Group reissued a “neutral” rating and set a $49.70 target price on shares of Tenaris in a research note on Monday, February 23rd. Finally, Piper Sandler reissued a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tenaris presently has an average rating of “Hold” and a consensus target price of $50.45.

Tenaris Stock Up 1.1%

The company has a market capitalization of $32.09 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. The company has a 50-day moving average of $53.55 and a two-hundred day moving average of $44.17.

Tenaris (NYSE:TS) last released its earnings results on Sunday, February 15th. The industrial products company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts expect that Tenaris S.A. will post 3.14 EPS for the current fiscal year.

Tenaris Dividend Announcement

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

Institutional Investors Weigh In On Tenaris

A number of institutional investors have recently modified their holdings of TS. Advisory Services Network LLC purchased a new stake in shares of Tenaris in the third quarter worth $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Tenaris in the fourth quarter worth $48,000. Raymond James Financial Inc. purchased a new stake in shares of Tenaris in the second quarter worth $49,000. Farther Finance Advisors LLC lifted its holdings in shares of Tenaris by 100.6% during the third quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 725 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Tenaris by 57.7% during the third quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 571 shares in the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.