Tenaris (NYSE:TS) Downgraded to Underweight at Morgan Stanley

Morgan Stanley lowered shares of Tenaris (NYSE:TS) 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.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group downgraded Tenaris from a buy rating to a hold rating in a report on Thursday, January 4th. Bank of America began coverage on Tenaris in a report on Tuesday, January 16th. They issued a neutral rating for the company.

Tenaris Stock Down 1.9 %

Shares of Tenaris stock opened at $37.38 on Thursday. The business has a 50 day moving average of $37.16 and a 200 day moving average of $34.59. The company has a market cap of $22.06 billion, a PE ratio of 5.63, a P/E/G ratio of 3.30 and a beta of 1.47. Tenaris has a 52 week low of $24.69 and a 52 week high of $40.72.

Tenaris (NYSE:TS) last posted its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.89. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.08 billion. Tenaris had a return on equity of 24.33% and a net margin of 26.35%. On average, research analysts anticipate that Tenaris will post 4.14 earnings per share for the current year.

Tenaris Increases Dividend

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

Institutional Investors Weigh In On Tenaris

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Tenaris by 2,895.9% during the third quarter. Price T Rowe Associates Inc. MD now owns 1,842,507 shares of the industrial products company’s stock valued at $47,612,000 after buying an additional 1,781,007 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Tenaris by 3,518.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,523,751 shares of the industrial products company’s stock valued at $45,819,000 after buying an additional 1,481,638 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Tenaris by 91.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,576,096 shares of the industrial products company’s stock valued at $89,545,000 after buying an additional 1,228,287 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Tenaris by 1,011.1% during the first quarter. Two Sigma Investments LP now owns 943,767 shares of the industrial products company’s stock valued at $26,822,000 after buying an additional 858,826 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Tenaris by 1,200.6% during the fourth quarter. Millennium Management LLC now owns 797,699 shares of the industrial products company’s stock valued at $28,047,000 after buying an additional 736,367 shares during the last quarter. 10.45% of the stock is owned by hedge funds and other institutional investors.

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.