Tenaris (NYSE:TS) Shares Gap Down to $37.39

Tenaris S.A. (NYSE:TS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $37.39, but opened at $35.40. Tenaris shares last traded at $34.95, with a volume of 1,423,335 shares traded.

Analyst Ratings Changes

TS has been the topic of a number of recent research reports. Morgan Stanley cut Tenaris from an “overweight” rating to an “underweight” rating and set a $40.00 target price on the stock. in a report on Thursday, April 18th. Jefferies Financial Group lowered Tenaris from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Bank of America initiated coverage on Tenaris in a research report on Tuesday, January 16th. They set a “neutral” rating for the company.

Tenaris Stock Down 7.4 %

The company has a market cap of $20.43 billion, a P/E ratio of 5.26, a P/E/G ratio of 2.32 and a beta of 1.47. The business’s 50 day moving average is $37.73 and its 200 day moving average is $34.84.

Tenaris (NYSE:TS) last released its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.89. Tenaris had a net margin of 26.35% and a return on equity of 24.33%. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.08 billion. As a group, equities research analysts forecast that Tenaris S.A. will post 4.06 EPS for the current year.

Tenaris Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 21st will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, May 20th. This is an increase from Tenaris’s previous Semi-Annual dividend of $0.68. Tenaris’s payout ratio is currently 12.05%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Janiczek Wealth Management LLC raised its position in shares of Tenaris by 14.8% during the 1st quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company’s stock worth $106,000 after purchasing an additional 347 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Tenaris by 20.3% during the 4th quarter. Parallel Advisors LLC now owns 3,908 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 660 shares during the period. Greenleaf Trust purchased a new position in shares of Tenaris during the 4th quarter worth approximately $210,000. West Family Investments Inc. acquired a new stake in Tenaris during the 4th quarter worth approximately $218,000. Finally, Lake Street Advisors Group LLC acquired a new stake in Tenaris during the 4th quarter worth approximately $229,000. Institutional investors and hedge funds own 10.45% of the company’s stock.

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.