Tenaris (NYSE:TS) Shares Down 3.2% – Here’s What Happened

Tenaris S.A. (NYSE:TS)’s stock price fell 3.2% during mid-day trading on Thursday . The company traded as low as $38.35 and last traded at $38.7250. 449,740 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,542,725 shares. The stock had previously closed at $40.02.

Analyst Ratings Changes

TS has been the topic of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Tenaris in a research note on Monday. They set a “neutral” rating and a $43.60 price objective on the stock. Piper Sandler reaffirmed a “neutral” rating on shares of Tenaris in a research report on Thursday. Weiss Ratings reiterated a “hold (c)” rating on shares of Tenaris in a research note on Monday. Wall Street Zen lowered Tenaris from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, BNP Paribas downgraded shares of Tenaris from an “outperform” rating to a “hold” rating in a research note on Friday, October 10th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.32.

Tenaris Price Performance

The firm has a market capitalization of $21.97 billion, a PE ratio of 10.16 and a beta of 0.95. The stock has a 50-day moving average price of $39.01 and a 200-day moving average price of $37.19.

Tenaris (NYSE:TS) last released its earnings results on Thursday, October 30th. The industrial products company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.75 by $0.10. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Tenaris had a return on equity of 11.72% and a net margin of 16.91%.The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 EPS. As a group, equities research analysts predict that Tenaris S.A. will post 3.14 earnings per share for the current fiscal year.

Tenaris Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 25th were paid a dividend of $0.58 per share. The ex-dividend date was Tuesday, November 25th. This represents a yield of 291.0%. Tenaris’s dividend payout ratio is presently 31.18%.

Institutional Investors Weigh In On Tenaris

Several institutional investors and hedge funds have recently made changes to their positions in the company. MGO One Seven LLC increased its stake in Tenaris by 5.4% during the second quarter. MGO One Seven LLC now owns 5,940 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 302 shares during the last quarter. Rhumbline Advisers lifted its holdings in Tenaris by 4.2% in the second quarter. Rhumbline Advisers now owns 8,387 shares of the industrial products company’s stock worth $314,000 after acquiring an additional 338 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Tenaris by 10.6% in the first quarter. Russell Investments Group Ltd. now owns 3,636 shares of the industrial products company’s stock valued at $142,000 after acquiring an additional 347 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Tenaris by 2.1% during the third quarter. JPMorgan Chase & Co. now owns 17,229 shares of the industrial products company’s stock valued at $616,000 after purchasing an additional 352 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Tenaris by 48.8% during the 2nd quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 357 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

About Tenaris

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.