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

Tenaris (NYSE:TS) had its target price upped by Barclays from $48.00 to $50.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

TS has been the topic of a number of other research reports. Piper Sandler initiated coverage on Tenaris in a report on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price on the stock. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and upped their price objective for the company from $35.00 to $47.00 in a research report on Monday, December 9th. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 29th. Finally, StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.00.

Tenaris Stock Up 1.1 %

Tenaris stock opened at $37.49 on Monday. The firm’s 50-day simple moving average is $38.29 and its 200 day simple moving average is $34.73. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The firm has a market capitalization of $21.80 billion, a PE ratio of 10.39 and a beta of 1.44.

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

Tenaris Increases Dividend

The firm also recently declared 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 a positive change 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 (DPR) is presently 31.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TS. Exencial Wealth Advisors LLC grew its holdings in Tenaris by 0.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 50,404 shares of the industrial products company’s stock valued at $1,905,000 after purchasing an additional 270 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Tenaris by 36.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 377 shares during the last quarter. Silvercrest Asset Management Group LLC grew its stake in shares of Tenaris by 0.4% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock valued at $3,696,000 after buying an additional 386 shares during the period. Signaturefd LLC grew its stake in shares of Tenaris by 2.3% during the 4th quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company’s stock valued at $705,000 after buying an additional 418 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Tenaris by 37.2% during the 4th quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock worth $65,000 after buying an additional 469 shares during the last quarter. Institutional investors and hedge funds 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.