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

Tenaris (NYSE:TS) was downgraded by equities research analysts at Kepler Capital Markets from a “buy” rating to a “hold” rating in a note issued to investors on Friday,Briefing.com Automated Import reports.

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

Tenaris Stock Down 1.1 %

NYSE TS opened at $38.97 on Friday. The stock has a market capitalization of $22.66 billion, a PE ratio of 8.49 and a beta of 1.45. Tenaris has a 12-month low of $27.24 and a 12-month high of $40.72. The company has a 50 day moving average price of $37.90 and a two-hundred day moving average price of $33.07.

Institutional Trading of Tenaris

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TS. FMR LLC lifted its holdings in shares of Tenaris by 21.3% during the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock worth $111,381,000 after buying an additional 614,884 shares during the last quarter. Wellington Management Group LLP increased its position in Tenaris by 187.4% during the third quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after acquiring an additional 1,660,300 shares during the period. Point72 Asset Management L.P. raised its stake in Tenaris by 102.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,050,552 shares of the industrial products company’s stock valued at $33,397,000 after purchasing an additional 531,860 shares during the last quarter. Holocene Advisors LP bought a new stake in Tenaris in the 3rd quarter valued at $21,454,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Tenaris in the 3rd quarter worth $17,129,000. 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.