Tenaris (NYSE:TS) Hits New 12-Month High at $40.03

Tenaris S.A. (NYSE:TS - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $40.03 and last traded at $39.96, with a volume of 189501 shares traded. The stock had previously closed at $39.47.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Jefferies Financial Group lowered shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Thursday, January 4th. Bank of America assumed coverage on shares of Tenaris in a research report on Tuesday, January 16th. They set a "neutral" rating on the stock.

Tenaris Stock Performance

The company has a market cap of $23.78 billion, a price-to-earnings ratio of 6.07, a price-to-earnings-growth ratio of 3.40 and a beta of 1.47. The stock's fifty day simple moving average is $35.48 and its two-hundred day simple moving average is $34.00.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.89. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.08 billion. Tenaris had a net margin of 26.35% and a return on equity of 24.33%. Analysts predict that Tenaris S.A. will post 4.17 EPS for the current fiscal year.

Tenaris Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 21st will be issued a $0.80 dividend. The ex-dividend date is Monday, May 20th. This is a positive change from Tenaris's previous Semi-Annual dividend of $0.68. Tenaris's dividend payout ratio (DPR) is 12.05%.

Hedge Funds Weigh In On Tenaris

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in shares of Tenaris by 101.5% in the 3rd quarter. Wellington Management Group LLP now owns 877,305 shares of the industrial products company's stock valued at $27,723,000 after acquiring an additional 442,016 shares during the period. Optiver Holding B.V. purchased a new position in shares of Tenaris in the 3rd quarter valued at $2,862,000. Marshall Wace LLP raised its stake in shares of Tenaris by 67.0% in the 2nd quarter. Marshall Wace LLP now owns 1,437,914 shares of the industrial products company's stock valued at $43,066,000 after acquiring an additional 576,909 shares during the period. Graham Capital Management L.P. purchased a new position in shares of Tenaris in the 3rd quarter valued at $1,113,000. Finally, Pacer Advisors Inc. raised its stake in shares of Tenaris by 59.6% in the 4th quarter. Pacer Advisors Inc. now owns 525,993 shares of the industrial products company's stock valued at $18,284,000 after acquiring an additional 196,331 shares during the period. Hedge funds and other institutional investors 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.