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

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

Several other equities analysts also recently issued reports on the stock. StockNews.com upgraded shares of Tenaris from a “hold” rating to a “buy” rating in a research note on Friday. Jefferies Financial Group upgraded shares of Tenaris from a “hold” rating to a “buy” rating and raised their target price for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Piper Sandler began coverage on shares of Tenaris in a research report on Thursday, December 19th. They issued an “overweight” rating and a $48.00 price target for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Tenaris from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tenaris currently has an average rating of “Moderate Buy” and a consensus price target of $42.75.

Tenaris Trading Down 0.8 %

Shares of NYSE:TS opened at $38.62 on Friday. The firm has a 50 day simple moving average of $37.97 and a 200-day simple moving average of $33.20. Tenaris has a twelve month low of $27.24 and a twelve month high of $40.72. The company has a market capitalization of $22.45 billion, a PE ratio of 8.41 and a beta of 1.45.

Tenaris Cuts Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.54 per share. This represents a dividend yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris’s dividend payout ratio (DPR) is presently 23.53%.

Institutional Trading of Tenaris

Several hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its holdings in Tenaris by 69.7% in the second quarter. Cubist Systematic Strategies LLC now owns 482,376 shares of the industrial products company’s stock valued at $14,722,000 after buying an additional 198,128 shares in the last quarter. GAMMA Investing LLC raised its holdings in Tenaris by 140.2% during 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. Mediolanum International Funds Ltd purchased a new stake in Tenaris during the third quarter worth $17,129,000. International Assets Investment Management LLC purchased a new position in shares of Tenaris in the third quarter valued at $380,000. Finally, Concentric Capital Strategies LP acquired a new position in shares of Tenaris during the 3rd quarter worth $1,163,000. Institutional investors and hedge funds 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.