Tenaris (NYSE:TS) Stock Price Up 5.4%

Tenaris SA (NYSE:TS) rose 5.4% during trading on Thursday . The company traded as high as $12.61 and last traded at $12.39, approximately 1,830,600 shares were traded during mid-day trading. A decline of 41% from the average daily volume of 3,082,954 shares. The stock had previously closed at $11.76.

TS has been the topic of a number of recent analyst reports. Bernstein Bank initiated coverage on shares of Tenaris in a research report on Tuesday, January 14th. They issued an “outperform” rating on the stock. BTIG Research reaffirmed a “buy” rating on shares of Tenaris in a research report on Tuesday, January 14th. ValuEngine raised shares of Tenaris from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Stifel Nicolaus dropped their target price on shares of Tenaris from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Piper Sandler downgraded shares of Tenaris from an “overweight” rating to a “neutral” rating and set a $13.50 target price on the stock. in a research report on Friday, March 13th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Tenaris currently has a consensus rating of “Buy” and a consensus price target of $18.58.

The stock has a market cap of $7.31 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 3.56 and a beta of 1.51. The company has a current ratio of 3.18, a quick ratio of 1.91 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average is $15.65 and its two-hundred day moving average is $20.22.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, February 19th. The industrial products company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Tenaris had a net margin of 10.18% and a return on equity of 6.10%. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.71 billion. On average, sell-side analysts predict that Tenaris SA will post 0.82 EPS for the current year.

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 20th. Investors of record on Tuesday, May 19th will be paid a $0.26 dividend. This represents a dividend yield of 2.8%. The ex-dividend date is Monday, May 18th. Tenaris’s dividend payout ratio (DPR) is 41.27%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its holdings in Tenaris by 53.8% during the 4th quarter. Renaissance Technologies LLC now owns 7,751,800 shares of the industrial products company’s stock valued at $175,501,000 after acquiring an additional 2,711,800 shares in the last quarter. Van ECK Associates Corp increased its holdings in Tenaris by 9.4% during the 4th quarter. Van ECK Associates Corp now owns 1,751,655 shares of the industrial products company’s stock valued at $39,657,000 after acquiring an additional 150,242 shares in the last quarter. Jane Street Group LLC increased its holdings in Tenaris by 37.3% during the 4th quarter. Jane Street Group LLC now owns 404,589 shares of the industrial products company’s stock valued at $9,119,000 after acquiring an additional 109,958 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Tenaris by 5.8% during the 4th quarter. Bank of New York Mellon Corp now owns 291,593 shares of the industrial products company’s stock valued at $6,602,000 after acquiring an additional 15,875 shares in the last quarter. Finally, Norges Bank purchased a new position in Tenaris during the 4th quarter valued at about $6,568,000. Hedge funds and other institutional investors own 11.37% of the company’s stock.

About Tenaris (NYSE:TS)

Tenaris SA, through its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers products for oil and gas drilling operations, such as casing and tubing products, premium connections, drill pipes, coiled tubing, hot-rolled and cold-drawn seamless tubes, perforating guns, tubular accessories, and non-tubular accessories and devices.

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