Tenaris (NYSE:TS) Given New $43.00 Price Target at Piper Sandler

Tenaris (NYSE:TS) had its price target trimmed by Piper Sandler from $49.00 to $43.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other equities analysts have also weighed in on TS. Bank of America began coverage on shares of Tenaris in a research report on Tuesday, January 16th. They set a neutral rating for the company. Morgan Stanley downgraded shares of Tenaris from an overweight rating to an underweight rating and set a $40.00 price objective for the company. in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $41.60.

Tenaris Stock Down 1.4 %

Shares of Tenaris stock opened at $33.64 on Monday. The company has a market capitalization of $19.85 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 2.59 and a beta of 1.51. The stock’s 50-day simple moving average is $37.69 and its 200-day simple moving average is $34.91. Tenaris has a 52 week low of $24.69 and a 52 week high of $40.72.

Tenaris (NYSE:TS) last posted its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.89. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.08 billion. On average, equities analysts expect that Tenaris will post 3.91 earnings per share for the current year.

Tenaris Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 21st will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, May 20th. This is a positive change from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s dividend payout ratio (DPR) is 26.67%.

Hedge Funds Weigh In On Tenaris

A number of institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE raised its position in shares of Tenaris by 542.1% during the 1st quarter. US Bancorp DE now owns 86,351 shares of the industrial products company’s stock valued at $3,391,000 after buying an additional 72,902 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in Tenaris during the first quarter valued at approximately $1,142,000. Headlands Technologies LLC lifted its stake in shares of Tenaris by 1,486.0% in the 1st quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 1,486 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Tenaris by 133.2% in the 1st quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company’s stock worth $2,501,000 after purchasing an additional 36,380 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of Tenaris during the 1st quarter valued at approximately $293,000. 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.