Tenaris (NYSE:TS) Sets New 52-Week High – Time to Buy?

Shares of Tenaris S.A. (NYSE:TS) hit a new 52-week high during trading on Monday . The company traded as high as $56.75 and last traded at $57.0620, with a volume of 241181 shares traded. The stock had previously closed at $55.82.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TS. Weiss Ratings restated a “hold (c)” rating on shares of Tenaris in a research report on Monday, December 29th. TD Cowen reaffirmed a “buy” rating on shares of Tenaris in a research report on Wednesday. Piper Sandler reiterated a “neutral” rating on shares of Tenaris in a research note on Thursday, December 18th. Morgan Stanley boosted their price target on shares of Tenaris from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $49.70 price objective on shares of Tenaris in a report on Monday, February 23rd. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tenaris currently has an average rating of “Hold” and a consensus target price of $50.45.

Tenaris Trading Up 2.9%

The stock has a fifty day moving average price of $49.06 and a 200-day moving average price of $41.89. The firm has a market capitalization of $33.39 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.96 and a beta of 0.87.

Tenaris (NYSE:TS) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.76 by $0.11. Tenaris had a return on equity of 11.32% and a net margin of 16.13%.The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the firm earned $0.94 EPS. Tenaris’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Tenaris S.A. will post 3.14 EPS for the current year.

Tenaris Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Tuesday, May 19th will be paid a $1.20 dividend. This represents a dividend yield of 450.0%. The ex-dividend date is Tuesday, May 19th. Tenaris’s payout ratio is currently 65.75%.

Institutional Investors Weigh In On Tenaris

Several large investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Tenaris during the 3rd quarter worth about $47,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Tenaris in the fourth quarter valued at about $48,000. Raymond James Financial Inc. bought a new stake in Tenaris during the second quarter worth about $49,000. Farther Finance Advisors LLC grew its stake in Tenaris by 100.6% during the third quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock worth $52,000 after buying an additional 725 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Tenaris by 57.7% during the third quarter. CWM LLC now owns 1,560 shares of the industrial products company’s stock worth $56,000 after buying an additional 571 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

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.