Tenaris (NYSE:TS) Reaches New 12-Month Low - Here's What Happened

Shares of Tenaris S.A. (NYSE:TS - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $32.66 and last traded at $33.24, with a volume of 2013809 shares changing hands. The stock had previously closed at $33.74.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TS. Bank of America downgraded Tenaris from a "neutral" rating to an "underperform" rating in a report on Wednesday, January 29th. BNP Paribas initiated coverage on shares of Tenaris in a report on Tuesday, April 22nd. They set an "outperform" rating on the stock. Kepler Capital Markets cut shares of Tenaris from a "buy" rating to a "hold" rating in a research report on Friday, January 17th. Barclays boosted their price objective on Tenaris from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, StockNews.com downgraded shares of Tenaris from a "buy" rating to a "hold" rating in a report on Saturday, March 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Tenaris presently has an average rating of "Moderate Buy" and a consensus price target of $47.00.

Tenaris Stock Performance

The stock has a market cap of $19.50 billion, a P/E ratio of 9.29 and a beta of 1.21. The stock's fifty day simple moving average is $35.68 and its 200-day simple moving average is $36.70.

Tenaris (NYSE:TS - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.80 by $0.14. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.88 billion. Tenaris had a net margin of 16.26% and a return on equity of 11.76%. The company's quarterly revenue was down 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 EPS. As a group, equities research analysts forecast that Tenaris S.A. will post 3.14 earnings per share for the current year.

Tenaris Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 20th will be given a dividend of $0.56 per share. This is a boost from Tenaris's previous semi-annual dividend of $0.54. The ex-dividend date of this dividend is Tuesday, May 20th. Tenaris's payout ratio is presently 34.15%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc purchased a new stake in Tenaris during the 4th quarter valued at $28,000. GAMMA Investing LLC grew its holdings in shares of Tenaris by 140.2% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company's stock worth $35,000 after purchasing an additional 548 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Tenaris by 78.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,084 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 478 shares in the last quarter. Headlands Technologies LLC purchased a new position in Tenaris in the fourth quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC raised its stake in Tenaris by 291.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,725 shares of the industrial products company's stock valued at $65,000 after buying an additional 1,284 shares during the last quarter. 10.45% of the stock is currently owned by 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.