Tenaris (NYSE:TS) Sets New 52-Week High – What’s Next?

Tenaris S.A. (NYSE:TS)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $41.82 and last traded at $41.74, with a volume of 623999 shares traded. The stock had previously closed at $40.40.

Analyst Upgrades and Downgrades

TS has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating on shares of Tenaris in a report on Wednesday, January 7th. Piper Sandler restated a “neutral” rating on shares of Tenaris in a research report on Thursday, December 18th. BNP Paribas Exane reaffirmed a “neutral” rating on shares of Tenaris in a research report on Friday, October 10th. Morgan Stanley set a $36.00 price objective on Tenaris in a research note on Monday, December 15th. Finally, BNP Paribas downgraded Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tenaris currently has a consensus rating of “Hold” and a consensus price target of $42.32.

Tenaris Stock Up 3.3%

The business’s 50-day simple moving average is $39.88 and its two-hundred day simple moving average is $37.59. The firm has a market cap of $24.25 billion, a price-to-earnings ratio of 11.21 and a beta of 0.96.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, October 30th. The industrial products company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.10. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.85 billion. Tenaris had a return on equity of 11.72% and a net margin of 16.91%.Tenaris’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 EPS. On average, analysts expect that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 25th were issued a dividend of $0.58 per share. This represents a yield of 291.0%. The ex-dividend date of this dividend was Tuesday, November 25th. Tenaris’s dividend payout ratio (DPR) is presently 31.18%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in Tenaris by 14.3% in the 1st quarter. AQR Capital Management LLC now owns 23,662 shares of the industrial products company’s stock worth $925,000 after buying an additional 2,969 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Tenaris in the first quarter worth approximately $203,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of Tenaris in the first quarter worth approximately $5,458,000. Baron Wealth Management LLC increased its position in shares of Tenaris by 7.0% during the second quarter. Baron Wealth Management LLC now owns 5,852 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 384 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in Tenaris by 12.0% in the 2nd quarter. Viking Fund Management LLC now owns 28,000 shares of the industrial products company’s stock valued at $1,047,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

About Tenaris

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.