Tenaris (NYSE:TS) Price Target Raised to $50.00

Tenaris (NYSE:TS) had its price objective lifted by Piper Sandler from $48.00 to $50.00 in a report published on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the industrial products company’s stock.

TS has been the subject of a number of other research reports. Kepler Capital Markets lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus upped their price target on shares of Tenaris from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and increased their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Finally, Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Tenaris currently has an average rating of “Hold” and an average target price of $46.00.

Tenaris Stock Up 0.1 %

Shares of NYSE TS opened at $37.57 on Tuesday. The company has a market cap of $21.84 billion, a price-to-earnings ratio of 10.41 and a beta of 1.44. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The firm’s fifty day moving average is $38.31 and its 200 day moving average is $34.75.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.31. The company had revenue of $2.85 billion during 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%. Equities research analysts anticipate that Tenaris will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Tuesday, May 20th will be paid 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 dividend payout ratio is currently 31.02%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Crossmark Global Holdings Inc. increased its stake in shares of Tenaris by 61.5% during the fourth quarter. Crossmark Global Holdings Inc. now owns 35,111 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 13,374 shares during the period. GAMMA Investing LLC grew its holdings in Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 548 shares in the last quarter. ABC Arbitrage SA purchased a new position in Tenaris during the 4th quarter valued at about $31,581,000. Concentric Capital Strategies LP bought a new stake in shares of Tenaris in the 3rd quarter valued at about $1,163,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Tenaris in the 3rd quarter worth approximately $380,000. Institutional investors own 10.45% of the company’s stock.

About Tenaris

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.