Tenaris (NYSE:TS) Sets New 52-Week High – Still a Buy?

Tenaris S.A. (NYSE:TS)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $40.87 and last traded at $40.83, with a volume of 270210 shares changing hands. The stock had previously closed at $40.28.

Analyst Upgrades and Downgrades

TS has been the topic of a number of analyst reports. StockNews.com lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays upped their target price on Tenaris from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Stifel Nicolaus increased their target price on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Bank of America lowered shares of Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded 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 note on Monday, December 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.00.

Tenaris Price Performance

The stock’s fifty day simple moving average is $38.31 and its 200-day simple moving average is $36.05. The stock has a market cap of $23.58 billion, a P/E ratio of 11.23 and a beta of 1.43.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.63 by $0.31. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The business had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.71 billion. Analysts forecast that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This is a boost from Tenaris’s previous semi-annual dividend of $0.54. Tenaris’s dividend payout ratio (DPR) is 31.02%.

Institutional Trading of Tenaris

Several institutional investors have recently modified their holdings of the company. Exencial Wealth Advisors LLC raised its position 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 worth $1,905,000 after acquiring an additional 270 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Tenaris by 0.4% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 97,796 shares of the industrial products company’s stock worth $3,696,000 after purchasing an additional 386 shares in the last quarter. Signaturefd LLC lifted its stake in Tenaris by 2.3% during the fourth quarter. Signaturefd LLC now owns 18,647 shares of the industrial products company’s stock valued at $705,000 after purchasing an additional 418 shares during the last quarter. Covestor Ltd boosted its holdings in Tenaris by 37.2% during the fourth quarter. Covestor Ltd now owns 1,729 shares of the industrial products company’s stock worth $65,000 after buying an additional 469 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company’s stock worth $41,000 after buying an additional 478 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.