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

Shares of Tenaris S.A. (NYSE:TS - Get Free Report) 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.

Wall Street Analysts Forecast Growth

TS has been the subject of several research reports. Jefferies Financial Group cut shares of Tenaris from a "buy" rating to a "hold" rating in a research note on Thursday, January 4th. Morgan Stanley cut shares of Tenaris from an "overweight" rating to an "underweight" rating and set a $40.00 price objective for the company. in a research note on Thursday, April 18th. Finally, Bank of America initiated coverage on shares of Tenaris in a research note on Tuesday, January 16th. They set a "neutral" rating for the company.

Tenaris Trading Down 7.5 %

The company has a market cap of $20.41 billion, a PE ratio of 5.21, a price-to-earnings-growth ratio of 2.32 and a beta of 1.47. The firm's fifty day moving average is $37.77 and its 200 day moving average is $34.85.

Tenaris (NYSE:TS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The industrial products company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.03 by $0.89. The company had revenue of $3.41 billion during 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%. As a group, sell-side analysts anticipate that Tenaris S.A. will post 4.06 EPS for the current fiscal year.

Tenaris Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.80 per share. This is a positive change from Tenaris's previous Semi-Annual dividend of $0.68. The ex-dividend date of this dividend is Monday, May 20th. Tenaris's dividend payout ratio is presently 12.05%.

Institutional Investors Weigh In On Tenaris

A number of large investors have recently modified their holdings of TS. Janiczek Wealth Management LLC grew its holdings in shares of Tenaris by 14.8% in the first quarter. Janiczek Wealth Management LLC now owns 2,692 shares of the industrial products company's stock valued at $106,000 after purchasing an additional 347 shares during the period. Ballentine Partners LLC lifted its position in shares of Tenaris by 8.0% during the fourth quarter. Ballentine Partners LLC now owns 8,089 shares of the industrial products company's stock worth $281,000 after purchasing an additional 600 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Tenaris by 20.3% during the fourth 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 in the last quarter. Signaturefd LLC lifted its position in shares of Tenaris by 5.2% during the fourth quarter. Signaturefd LLC now owns 15,695 shares of the industrial products company's stock worth $546,000 after purchasing an additional 782 shares in the last quarter. Finally, Beck Bode LLC lifted its position in shares of Tenaris by 2.3% during the fourth quarter. Beck Bode LLC now owns 35,112 shares of the industrial products company's stock worth $1,220,000 after purchasing an additional 782 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company's stock.

About Tenaris

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.