Tenaris (NYSE:TS) Downgraded to Hold Rating by Kepler Capital Markets

Kepler Capital Markets lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a research report released on Friday, Marketbeat reports.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler began coverage on Tenaris in a research note on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price objective for the company. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research note on Friday. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and upped their price target for the stock from $35.00 to $47.00 in a research note on Monday, December 9th. Finally, Stifel Nicolaus cut their price target on Tenaris from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Tenaris has an average rating of “Moderate Buy” and an average price target of $42.75.

Tenaris Trading Down 0.8 %

Shares of NYSE TS opened at $38.62 on Friday. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The stock has a 50 day moving average of $37.97 and a two-hundred day moving average of $33.17. The stock has a market cap of $22.45 billion, a P/E ratio of 8.41 and a beta of 1.45.

Tenaris Cuts Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th were given a $0.54 dividend. This represents a yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris’s payout ratio is 23.53%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TS. Wellington Management Group LLP grew its holdings in Tenaris by 187.4% in the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock valued at $80,943,000 after purchasing an additional 1,660,300 shares during the last quarter. Holocene Advisors LP acquired a new stake in Tenaris in the third quarter valued at $21,454,000. FMR LLC grew its holdings in Tenaris by 21.3% in the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after purchasing an additional 614,884 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in Tenaris in the third quarter valued at $17,129,000. Finally, Point72 Asset Management L.P. grew its holdings in Tenaris by 102.5% in the third quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock valued at $33,397,000 after purchasing an additional 531,860 shares during 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.