Stifel Nicolaus Cuts Tenaris (NYSE:TS) Price Target to $41.00

Tenaris (NYSE:TS - Free Report) had its price objective reduced by Stifel Nicolaus from $43.00 to $41.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the industrial products company's stock.

TS has been the topic of several other reports. StockNews.com cut Tenaris from a "buy" rating to a "hold" rating in a research report on Saturday, March 22nd. Kepler Capital Markets cut shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Barclays boosted their price objective on shares of Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Bank of America downgraded Tenaris from a "neutral" rating to an "underperform" rating in a research report on Wednesday, January 29th. Finally, Piper Sandler lifted their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $45.60.

Tenaris Stock Performance

Shares of TS traded up $0.57 on Tuesday, hitting $33.26. 1,365,203 shares of the stock traded hands, compared to its average volume of 1,787,832. The company has a market capitalization of $19.34 billion, a PE ratio of 9.21 and a beta of 1.21. Tenaris has a one year low of $27.24 and a one year high of $40.87. The business has a 50 day simple moving average of $36.70 and a 200 day simple moving average of $36.58.

Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.31. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. The firm had revenue of $2.85 billion during the quarter, compared to analysts' expectations of $2.71 billion. On average, equities analysts expect that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This is a boost from Tenaris's previous semi-annual dividend of $0.54. Tenaris's payout ratio is currently 31.02%.

Institutional Investors Weigh In On Tenaris

Institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC bought a new position in shares of Tenaris during the fourth quarter worth $41,569,000. ABC Arbitrage SA bought a new position in shares of Tenaris during the 4th quarter valued at about $31,581,000. Millennium Management LLC boosted its holdings in shares of Tenaris by 38.2% during the 4th quarter. Millennium Management LLC now owns 2,816,728 shares of the industrial products company's stock valued at $106,444,000 after purchasing an additional 778,021 shares during the last quarter. Merewether Investment Management LP purchased a new position in shares of Tenaris during the fourth quarter valued at about $20,271,000. Finally, Carrhae Capital LLP bought a new stake in shares of Tenaris in the fourth quarter worth about $16,545,000. 10.45% of the stock is owned by hedge funds and other 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.