StockNews.com Downgrades Tenaris (NYSE:TS) to Hold

StockNews.com lowered shares of Tenaris (NYSE:TS) from a buy rating to a hold rating in a report released on Tuesday.

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

Tenaris Price Performance

NYSE TS opened at $37.42 on Tuesday. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The company has a market capitalization of $21.76 billion, a PE ratio of 8.15 and a beta of 1.43. The company has a fifty day moving average of $33.02 and a two-hundred day moving average of $31.62.

Tenaris Cuts Dividend

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

Institutional Trading of Tenaris

Institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC boosted its holdings in shares of Tenaris by 93.8% during 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 buying an additional 18,935 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tenaris by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,782,729 shares of the industrial products company’s stock worth $70,009,000 after acquiring an additional 56,935 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Tenaris during the 2nd quarter worth about $1,518,000. Sei Investments Co. lifted its holdings in shares of Tenaris by 133.2% during the 1st 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. Finally, Kiltearn Partners LLP lifted its holdings in shares of Tenaris by 49.9% during the 1st quarter. Kiltearn Partners LLP now owns 743,959 shares of the industrial products company’s stock worth $29,379,000 after acquiring an additional 247,559 shares during the period. 10.45% of the stock is owned by institutional investors and hedge funds.

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.