Morgan Stanley Lowers Tenaris (NYSE:TS) to Underweight

Morgan Stanley cut shares of Tenaris (NYSE:TS - Free Report) from an overweight rating to an underweight rating in a research note published on Thursday, Marketbeat reports. Morgan Stanley currently has $40.00 price objective on the industrial products company's stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Tenaris from a buy rating to a hold rating in a research report on Thursday, January 4th. Bank of America began coverage on shares of Tenaris in a research report on Tuesday, January 16th. They issued a neutral rating for the company.

Tenaris Stock Down 1.9 %

Shares of NYSE TS traded down $0.73 on Thursday, reaching $37.38. 2,224,067 shares of the company's stock traded hands, compared to its average volume of 2,012,636. Tenaris has a 12 month low of $24.69 and a 12 month high of $40.72. The business's 50 day simple moving average is $37.16 and its two-hundred day simple moving average is $34.59. The company has a market cap of $22.06 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 3.29 and a beta of 1.47.

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 the consensus estimate of $1.03 by $0.89. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.08 billion. Tenaris had a net margin of 26.35% and a return on equity of 24.33%. Analysts forecast that Tenaris will post 4.14 earnings per share 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 paid a $0.80 dividend. The ex-dividend date is Monday, May 20th. This is a boost from Tenaris's previous Semi-Annual dividend of $0.68. Tenaris's payout ratio is presently 12.05%.

Institutional Trading of Tenaris

Hedge funds have recently made changes to their positions in the business. Harbour Capital Advisors LLC purchased a new stake in Tenaris in the 1st quarter worth about $449,000. Capital Insight Partners LLC raised its position in Tenaris by 12.3% in the 1st quarter. Capital Insight Partners LLC now owns 96,023 shares of the industrial products company's stock worth $3,771,000 after purchasing an additional 10,555 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Tenaris by 4.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 29,258 shares of the industrial products company's stock worth $1,149,000 after purchasing an additional 1,359 shares during the period. Janiczek Wealth Management LLC raised its position in Tenaris by 14.8% in 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 period. Finally, Ballentine Partners LLC raised its position in Tenaris by 10.3% in the 1st quarter. Ballentine Partners LLC now owns 8,923 shares of the industrial products company's stock worth $350,000 after purchasing an additional 834 shares during the period. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

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.