Tenaris (NYSE:TS) Reaches New 1-Year High - Here's What Happened

Tenaris S.A. (NYSE:TS - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $40.87 and last traded at $40.83, with a volume of 270210 shares trading hands. The stock had previously closed at $40.28.

Wall Street Analysts Forecast Growth

TS has been the topic of several research analyst reports. Barclays upped their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Kepler Capital Markets downgraded Tenaris from a "buy" rating to a "hold" rating in a research note on Friday, January 17th. Jefferies Financial Group raised Tenaris from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $35.00 to $47.00 in a report on Monday, December 9th. Stifel Nicolaus upped their price objective on shares of Tenaris from $40.00 to $43.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, Piper Sandler lifted their target price 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $46.00.

Tenaris Price Performance

The company has a 50 day moving average of $38.35 and a 200-day moving average of $36.23. The company has a market cap of $22.71 billion, a P/E ratio of 10.82 and a beta of 1.43.

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Tenaris (NYSE:TS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.31. The firm had revenue of $2.85 billion for the quarter, compared to analysts' expectations of $2.71 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. Research analysts anticipate that Tenaris S.A. 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. Investors of record on Tuesday, May 20th will be given a $0.56 dividend. This is an increase from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris's payout ratio is presently 31.02%.

Hedge Funds Weigh In On Tenaris

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in Tenaris by 48.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 23,132 shares of the industrial products company's stock worth $735,000 after acquiring an additional 7,533 shares during the last quarter. Cerity Partners LLC raised its position in shares of Tenaris by 28.3% in the 3rd quarter. Cerity Partners LLC now owns 24,967 shares of the industrial products company's stock worth $794,000 after acquiring an additional 5,502 shares in the last quarter. FMR LLC lifted its position in 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 buying an additional 614,884 shares during the period. Erste Asset Management GmbH purchased a new position in Tenaris during the 3rd quarter valued at about $1,894,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tenaris in the 3rd quarter worth approximately $33,000. Hedge funds and other 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.