Tenaris (NYSE:TS) Shares Gap Up to $35.96

Tenaris S.A. (NYSE:TS – Get Rating)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $35.96, but opened at $37.90. Tenaris shares last traded at $37.55, with a volume of 25,832 shares traded.

Wall Street Analyst Weigh In

Several analysts have weighed in on TS shares. JPMorgan Chase & Co. boosted their target price on shares of Tenaris from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 15th. Piper Sandler lifted their price objective on shares of Tenaris from $33.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, November 18th. StockNews.com cut shares of Tenaris from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 27th. Stifel Nicolaus upgraded shares of Tenaris from a “hold” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $38.00 in a research note on Thursday, October 13th. Finally, Grupo Santander cut shares of Tenaris from an “outperform” rating to a “neutral” rating in a research note on Monday, November 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.08.

Tenaris Stock Performance

The firm’s 50 day moving average is $33.97 and its 200-day moving average is $29.78. The stock has a market capitalization of $20.97 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.25 and a beta of 1.47.

Tenaris (NYSE:TS – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The industrial products company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.01). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.93 billion. Tenaris had a return on equity of 16.63% and a net margin of 20.75%. As a group, sell-side analysts forecast that Tenaris S.A. will post 4.33 earnings per share for the current year.

Tenaris Increases Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Tuesday, November 22nd were given a dividend of $0.34 per share. The ex-dividend date was Monday, November 21st. This is a boost from Tenaris’s previous dividend of $0.26. Tenaris’s dividend payout ratio is currently 18.94%.

Hedge Funds Weigh In On Tenaris

A number of large investors have recently added to or reduced their stakes in the stock. Ronald Blue Trust Inc. purchased a new stake in shares of Tenaris during the second quarter worth $26,000. CWM LLC raised its position in shares of Tenaris by 113.4% in the second quarter. CWM LLC now owns 1,033 shares of the industrial products company’s stock valued at $27,000 after buying an additional 549 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Tenaris in the fourth quarter valued at about $28,000. Captrust Financial Advisors raised its position 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 buying an additional 676 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Tenaris by 345.2% in the third quarter. IFP Advisors Inc now owns 926 shares of the industrial products company’s stock valued at $45,000 after buying an additional 718 shares during the last quarter. 12.15% of the stock is currently owned by institutional investors and hedge funds.

About Tenaris

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Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.