Tenaris (NYSE:TS) Downgraded by Morgan Stanley

Morgan Stanley cut shares of Tenaris (NYSE:TSFree Report) from an overweight rating to an underweight rating in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has $40.00 price target on the industrial products company’s stock.

Several other equities research analysts also recently issued reports on TS. Jefferies Financial Group downgraded Tenaris from a buy rating to a hold rating in a report on Thursday, January 4th. Bank of America started coverage on shares of Tenaris in a research report on Tuesday, January 16th. They set a neutral rating on the stock.

Read Our Latest Report on Tenaris

Tenaris Trading Up 1.4 %

Tenaris stock opened at $37.90 on Thursday. The company has a 50-day moving average price of $37.28 and a 200 day moving average price of $34.70. Tenaris has a 12-month low of $24.69 and a 12-month high of $40.72. The stock has a market cap of $22.37 billion, a P/E ratio of 5.71, a PEG ratio of 3.28 and a beta of 1.47.

Tenaris (NYSE:TSGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.89. Tenaris had a return on equity of 24.33% and a net margin of 26.35%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.08 billion. As a group, analysts forecast that Tenaris will post 4.14 EPS for the current year.

Tenaris Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 21st will be issued a $0.80 dividend. This is a boost from Tenaris’s previous Semi-Annual dividend of $0.68. The ex-dividend date is Monday, May 20th. Tenaris’s dividend payout ratio is presently 12.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TS. Captrust Financial Advisors boosted its holdings in shares of Tenaris by 155.8% in the second quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 676 shares in the last quarter. Belpointe Asset Management LLC increased its position in Tenaris by 41.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,546 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 455 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Tenaris in the 3rd quarter valued at approximately $45,000. Point72 Hong Kong Ltd purchased a new stake in shares of Tenaris in the second quarter valued at approximately $76,000. Finally, Ronald Blue Trust Inc. grew its holdings in Tenaris by 36.2% during the third quarter. Ronald Blue Trust Inc. now owns 2,705 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 719 shares during the period. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

About Tenaris

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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.

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