Tenaris (NYSE:TS) Cut to Hold at Kepler Capital Markets

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

Several other equities analysts also recently weighed in on TS. Piper Sandler assumed coverage on Tenaris in a research report on Thursday, December 19th. They set an “overweight” rating and a $48.00 target price on the stock. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and increased their target price for the stock from $35.00 to $47.00 in a research report on Monday, December 9th. StockNews.com upgraded Tenaris from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus reduced their target price on 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.75.

Tenaris Stock Down 0.8 %

TS opened at $38.62 on Friday. The firm has a market cap of $22.45 billion, a P/E ratio of 8.41 and a beta of 1.45. Tenaris has a 52 week low of $27.24 and a 52 week high of $40.72. The business’s fifty day simple moving average is $37.97 and its 200 day simple moving average is $33.17.

Tenaris Cuts Dividend

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

Institutional Investors Weigh In On Tenaris

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc purchased a new stake in shares of Tenaris during the 4th quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in shares of Tenaris by 140.2% during the 4th quarter. GAMMA Investing LLC now owns 939 shares of the industrial products company’s stock valued at $35,000 after buying an additional 548 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Tenaris during the 3rd quarter valued at about $33,000. Covestor Ltd purchased a new stake in shares of Tenaris during the 3rd quarter valued at about $40,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Tenaris by 36.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,420 shares of the industrial products company’s stock valued at $45,000 after buying an additional 377 shares during the period. 10.45% of the stock is currently owned by hedge funds and other institutional investors.

Tenaris Company Profile

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.