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

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

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 research note on Friday, October 11th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.67.

Tenaris Stock Performance

Shares of NYSE:TS opened at $37.00 on Tuesday. The company has a market cap of $21.51 billion, a P/E ratio of 8.06 and a beta of 1.43. Tenaris has a one year low of $27.24 and a one year high of $40.72. The business’s 50-day simple moving average is $32.84 and its 200 day simple moving average is $31.60.

Tenaris Cuts Dividend

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

Institutional Trading of Tenaris

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tenaris during the second quarter worth $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Tenaris in the third quarter worth about $33,000. Covestor Ltd bought a new position in shares of Tenaris during the third quarter valued at approximately $40,000. Blue Trust Inc. raised its position in shares of Tenaris by 79.0% during the 2nd quarter. Blue Trust Inc. now owns 3,588 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 1,583 shares during the period. Finally, Barclays PLC boosted its position in Tenaris by 30,000.0% during the 3rd quarter. Barclays PLC now owns 6,020 shares of the industrial products company’s stock valued at $192,000 after purchasing an additional 6,000 shares during the period. 10.45% of the stock is owned by institutional investors.

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.