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

StockNews.com cut shares of Tenaris (NYSE:TS - Free Report) from a buy rating to a hold rating in a report released on Saturday morning.

Several other analysts also recently weighed in on TS. Piper Sandler boosted their price target on shares of Tenaris from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 25th. Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a report on Friday, January 17th. Barclays increased their price target 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 shares of Tenaris from a "neutral" rating to an "underperform" rating in a research note on Wednesday, January 29th. Finally, Stifel Nicolaus boosted their price target on Tenaris from $40.00 to $43.00 and gave the company a "buy" rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $46.00.

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Tenaris Price Performance

NYSE TS traded up $0.27 during trading hours on Friday, reaching $39.64. 865,222 shares of the stock traded hands, compared to its average volume of 1,738,229. The stock has a 50 day simple moving average of $38.29 and a two-hundred day simple moving average of $35.97. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.73. The company has a market cap of $23.04 billion, a price-to-earnings ratio of 10.98 and a beta of 1.43.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.31. The company had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. On average, sell-side analysts forecast that Tenaris will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

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

Institutional Trading of Tenaris

Hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. lifted its position in Tenaris by 61.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company's stock valued at $1,327,000 after acquiring an additional 13,374 shares during the period. GAMMA Investing LLC increased its stake in shares of Tenaris by 140.2% during the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 548 shares in the last quarter. ABC Arbitrage SA purchased a new position in shares of Tenaris during the fourth quarter valued at approximately $31,581,000. Proficio Capital Partners LLC bought a new stake in shares of Tenaris in the 4th quarter worth approximately $968,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Tenaris by 291.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock worth $65,000 after buying an additional 1,284 shares during the last quarter. Institutional investors own 10.45% of the company's stock.

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.