Tenaris (NYSE:TS) Stock Rating Lowered by Kepler Capital Markets

Kepler Capital Markets lowered shares of Tenaris (NYSE:TS - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday morning, Marketbeat.com reports.

A number of other analysts have also commented on TS. StockNews.com upgraded shares of Tenaris from a "hold" rating to a "buy" rating in a research note on Friday. Jefferies Financial Group raised shares of Tenaris from a "hold" rating to a "buy" rating and lifted their target price for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. Stifel Nicolaus lowered their price target on Tenaris from $37.00 to $36.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Finally, Piper Sandler initiated coverage on Tenaris in a research note on Thursday, December 19th. They issued an "overweight" rating and a $48.00 price target on the stock. 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.75.

Tenaris Price Performance

NYSE TS traded down $0.16 during mid-day trading on Friday, reaching $38.79. The stock had a trading volume of 834,734 shares, compared to its average volume of 1,129,464. The stock has a market cap of $22.55 billion, a PE ratio of 8.45 and a beta of 1.45. Tenaris has a 1 year low of $27.24 and a 1 year high of $40.72. The company has a fifty day moving average price of $37.90 and a 200 day moving average price of $33.07.

Tenaris Cuts Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 19th were issued a $0.54 dividend. This represents a yield of 3.6%. The ex-dividend date was Tuesday, November 19th. Tenaris's dividend payout ratio is 23.53%.

Hedge Funds Weigh In On Tenaris

Several large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of Tenaris by 9.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 14,918 shares of the industrial products company's stock valued at $455,000 after purchasing an additional 1,271 shares during the period. American Century Companies Inc. raised its holdings in Tenaris by 10.3% during the second quarter. American Century Companies Inc. now owns 15,913 shares of the industrial products company's stock valued at $486,000 after acquiring an additional 1,487 shares during the period. XTX Topco Ltd purchased a new position in shares of Tenaris in the second quarter valued at about $1,289,000. 1832 Asset Management L.P. boosted its stake in shares of Tenaris by 16.6% in the second quarter. 1832 Asset Management L.P. now owns 32,950 shares of the industrial products company's stock worth $1,006,000 after acquiring an additional 4,700 shares during the period. Finally, Evergreen Capital Management LLC grew its position in shares of Tenaris by 3.7% during the second quarter. Evergreen Capital Management LLC now owns 19,932 shares of the industrial products company's stock worth $608,000 after purchasing an additional 710 shares in 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.