Tenaris (NYSE:TS) Given New $43.00 Price Target at Piper Sandler

Tenaris (NYSE:TS) had its target price reduced by Piper Sandler from $49.00 to $43.00 in a report released on Monday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on TS. Morgan Stanley downgraded Tenaris from an overweight rating to an underweight rating and set a $40.00 price target for the company. in a report on Thursday, April 18th. Bank of America started coverage on Tenaris in a research note on Tuesday, January 16th. They issued a neutral rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $41.60.

Tenaris Stock Up 0.8 %

Tenaris stock opened at $34.08 on Monday. The firm has a market capitalization of $20.11 billion, a PE ratio of 5.68, a P/E/G ratio of 2.59 and a beta of 1.51. Tenaris has a 52 week low of $24.69 and a 52 week high of $40.72. The firm’s 50-day simple moving average is $37.73 and its 200 day simple moving average is $34.90.

Tenaris (NYSE:TS) last issued its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.89. Tenaris had a return on equity of 21.11% and a net margin of 24.89%. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.08 billion. On average, research analysts expect that Tenaris will post 3.91 EPS for the current fiscal year.

Tenaris Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 21st will be paid a dividend of $0.80 per share. This is an increase from Tenaris’s previous Semi-Annual dividend of $0.68. The ex-dividend date is Monday, May 20th. Tenaris’s payout ratio is 13.33%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TS. Raymond James & Associates raised its holdings in Tenaris by 1.2% in the third quarter. Raymond James & Associates now owns 141,210 shares of the industrial products company’s stock valued at $4,462,000 after acquiring an additional 1,722 shares in the last quarter. Advisor Partners II LLC increased its holdings in Tenaris by 25.6% in the third quarter. Advisor Partners II LLC now owns 10,662 shares of the industrial products company’s stock valued at $337,000 after buying an additional 2,171 shares during the last quarter. Capital Insight Partners LLC raised its stake in Tenaris by 11.4% during the third quarter. Capital Insight Partners LLC now owns 85,167 shares of the industrial products company’s stock valued at $2,691,000 after buying an additional 8,745 shares in the last quarter. Capital Wealth Planning LLC grew its position in shares of Tenaris by 60.6% in the 3rd quarter. Capital Wealth Planning LLC now owns 31,968 shares of the industrial products company’s stock worth $1,010,000 after acquiring an additional 12,062 shares in the last quarter. Finally, Jump Financial LLC grew its position in shares of Tenaris by 0.6% in the 3rd quarter. Jump Financial LLC now owns 176,000 shares of the industrial products company’s stock worth $5,562,000 after acquiring an additional 1,053 shares in the last quarter. Institutional investors and hedge funds own 10.45% of the company’s stock.

Tenaris Company Profile

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.