Tenaris (NYSE:TS) Given New $50.00 Price Target at Barclays

Tenaris (NYSE:TS) had its price target lifted by Barclays from $48.00 to $50.00 in a report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

A number of other equities research analysts have also recently commented on TS. Kepler Capital Markets cut Tenaris from a “buy” rating to a “hold” rating in a research report on Friday, January 17th. Stifel Nicolaus raised their price objective on Tenaris from $40.00 to $43.00 and gave the company a “buy” rating in a report on Friday. Bank of America downgraded Tenaris from a “neutral” rating to an “underperform” rating in a research note on Wednesday, January 29th. Jefferies Financial Group raised shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price target for the company from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, StockNews.com raised shares of Tenaris from a “hold” rating to a “buy” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Tenaris presently has a consensus rating of “Hold” and a consensus price target of $45.60.

Tenaris Stock Down 0.4 %

Shares of TS opened at $37.62 on Monday. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 10.42 and a beta of 1.44. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The stock’s 50-day moving average price is $38.31 and its 200-day moving average price is $34.64.

Tenaris (NYSE:TS) last released its quarterly earnings data on Wednesday, February 19th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.63 by $0.31. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.71 billion. Tenaris had a return on equity of 11.76% and a net margin of 16.26%. As a group, equities analysts anticipate that Tenaris will post 3.14 EPS for the current fiscal year.

Tenaris Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be paid a $0.56 dividend. This is an increase from Tenaris’s previous semi-annual dividend of $0.54. The ex-dividend date is Tuesday, May 20th. Tenaris’s dividend payout ratio is currently 31.02%.

Hedge Funds Weigh In On Tenaris

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning lifted its stake in Tenaris by 8.2% in the 3rd quarter. Creative Planning now owns 31,176 shares of the industrial products company’s stock worth $991,000 after purchasing an additional 2,352 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Tenaris by 36.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock worth $45,000 after buying an additional 377 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Tenaris during the third quarter worth $380,000. Assetmark Inc. grew its holdings in Tenaris by 0.9% in the 3rd quarter. Assetmark Inc. now owns 439,553 shares of the industrial products company’s stock valued at $13,973,000 after buying an additional 4,053 shares in the last quarter. Finally, Covestor Ltd purchased a new stake in Tenaris in the 3rd quarter valued at $40,000. 10.45% of the stock is currently 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.