Tenaris (NYSE:TS) Reaches New 12-Month High – Here’s What Happened

Tenaris S.A. (NYSE:TS)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $47.59 and last traded at $47.47, with a volume of 821182 shares traded. The stock had previously closed at $46.91.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Tenaris from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Oddo Bhf raised Tenaris to an “outperform” rating in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Tenaris in a report on Monday, December 29th. Morgan Stanley set a $38.00 price objective on shares of Tenaris and gave the stock an “underweight” rating in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group started coverage on shares of Tenaris in a research report on Monday, December 15th. They set a “neutral” rating and a $43.60 target price for the company. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tenaris has a consensus rating of “Hold” and an average target price of $42.72.

Tenaris Price Performance

The company has a 50 day simple moving average of $41.87 and a 200-day simple moving average of $38.68. The firm has a market cap of $27.35 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 12.89 and a beta of 0.95.

Hedge Funds Weigh In On Tenaris

A number of large investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC purchased a new stake in Tenaris during the second quarter valued at about $28,000. Blue Trust Inc. increased its holdings in shares of Tenaris by 48.8% in the second quarter. Blue Trust Inc. now owns 1,088 shares of the industrial products company’s stock worth $41,000 after buying an additional 357 shares during the period. Advisory Services Network LLC bought a new stake in shares of Tenaris in the 3rd quarter valued at about $47,000. Raymond James Financial Inc. purchased a new stake in Tenaris during the 2nd quarter valued at about $49,000. Finally, Farther Finance Advisors LLC boosted its holdings in Tenaris by 100.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,446 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 725 shares during the period. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Tenaris Company Profile

Tenaris SA is a global manufacturer and supplier of steel tubular products and related services, primarily serving the oil and gas industry as well as other energy and industrial markets. Its product portfolio centers on seamless and welded steel pipes used for casing, tubing and line pipe applications, alongside a range of specialty and mechanical steel tubes. The company also provides value‑added technical solutions, including premium connections, heat treatment and surface protection, to support drilling, completion and production activities.

Tenaris operates an integrated industrial and commercial network that combines manufacturing, distribution and field services.