Piper Sandler Trims Tenaris (NYSE:TS) Target Price to $43.00

Tenaris (NYSE:TS) had its price objective lowered by Piper Sandler from $49.00 to $43.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

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

Tenaris Stock Performance

Shares of TS opened at $33.64 on Monday. The firm has a market capitalization of $19.85 billion, a price-to-earnings ratio of 5.61, a PEG 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 business’s fifty day moving average price is $37.69 and its two-hundred day moving average price is $34.91.

Tenaris (NYSE:TS) last released its earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.89. Tenaris had a net margin of 24.89% and a return on equity of 21.11%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.08 billion. As a group, research analysts forecast that Tenaris will post 3.91 EPS for the current year.

Tenaris Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, May 20th. This is a positive change from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s payout ratio is currently 26.67%.

Institutional Trading of Tenaris

A number of hedge funds have recently made changes to their positions in TS. US Bancorp DE raised its position in shares of Tenaris by 542.1% in the first quarter. US Bancorp DE now owns 86,351 shares of the industrial products company’s stock valued at $3,391,000 after purchasing an additional 72,902 shares during the period. QRG Capital Management Inc. bought a new position in Tenaris in the 1st quarter valued at about $1,142,000. Headlands Technologies LLC lifted its position in Tenaris by 1,486.0% during the first quarter. Headlands Technologies LLC now owns 1,586 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 1,486 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Tenaris by 133.2% during the first quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company’s stock worth $2,501,000 after acquiring an additional 36,380 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Tenaris in the first quarter valued at approximately $293,000. 10.45% of the stock is owned by institutional investors and hedge funds.

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.