Tenaris (NYSE:TS) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Separately, Stifel Nicolaus dropped their price target on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Tenaris currently has an average rating of “Hold” and an average target price of $38.67.

Tenaris Price Performance

TS stock opened at $36.82 on Tuesday. Tenaris has a 1-year low of $27.24 and a 1-year high of $40.72. The stock has a market capitalization of $21.41 billion, a P/E ratio of 8.02 and a beta of 1.43. The business has a fifty day moving average price of $32.49 and a 200-day moving average price of $31.52.

Tenaris Cuts Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.54 per share. The ex-dividend date is Tuesday, November 19th. This represents a dividend yield of 3.6%. Tenaris’s dividend payout ratio is currently 34.86%.

Hedge Funds Weigh In On Tenaris

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its position in Tenaris by 133.2% in the first quarter. Sei Investments Co. now owns 63,694 shares of the industrial products company’s stock worth $2,501,000 after acquiring an additional 36,380 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Tenaris by 93.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,128 shares of the industrial products company’s stock worth $1,537,000 after purchasing an additional 18,935 shares during the period. OLD Mission Capital LLC lifted its position in Tenaris by 55.7% during the first quarter. OLD Mission Capital LLC now owns 97,340 shares of the industrial products company’s stock valued at $3,823,000 after purchasing an additional 34,833 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Tenaris by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock valued at $70,009,000 after purchasing an additional 56,935 shares during the period. Finally, Kiltearn Partners LLP increased its position in Tenaris by 49.9% in the first quarter. Kiltearn Partners LLP now owns 743,959 shares of the industrial products company’s stock worth $29,379,000 after buying an additional 247,559 shares in the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.