Tenaris (NYSE:TS) Hits New 12-Month High – Time to Buy?

Shares of Tenaris S.A. (NYSE:TS) hit a new 52-week high on Tuesday . The stock traded as high as $55.73 and last traded at $55.7590, with a volume of 441750 shares traded. The stock had previously closed at $53.84.

Analysts Set New Price Targets

Several brokerages have recently commented on TS. Morgan Stanley raised their price target on Tenaris from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Monday, February 23rd. Wall Street Zen lowered shares of Tenaris from a “buy” rating to a “hold” rating in a research note on Sunday. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $49.70 price target on shares of Tenaris in a report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.45.

Tenaris Stock Performance

The firm has a market capitalization of $32.07 billion, a PE ratio of 15.11, a P/E/G ratio of 1.98 and a beta of 0.87. The stock has a fifty day moving average price of $48.43 and a 200-day moving average price of $41.56.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Thursday, February 19th. The industrial products company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the prior year, the business posted $0.94 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Tuesday, May 19th will be given a dividend of $1.20 per share. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Tenaris’s dividend payout ratio is presently 31.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Tenaris during the fourth quarter valued at approximately $48,000. Raymond James Financial Inc. purchased a new position in Tenaris in the second quarter worth $49,000. Advisory Services Network LLC acquired a new position in shares of Tenaris during the third quarter worth $47,000. Farther Finance Advisors LLC lifted its holdings in shares of Tenaris by 100.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 725 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Tenaris by 1,066.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 1,376 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value?added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.