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

Tenaris (NYSE:TS) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Stifel Nicolaus decreased their target price on shares of 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, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Tenaris has an average rating of “Hold” and a consensus price target of $38.67.

Tenaris Price Performance

NYSE TS traded down $0.14 on Tuesday, reaching $36.82. 789,714 shares of the company’s stock traded hands, compared to its average volume of 1,961,507. The stock has a market cap of $21.41 billion, a PE ratio of 8.02 and a beta of 1.43. Tenaris has a 12 month low of $27.24 and a 12 month high of $40.72. The stock has a 50-day simple moving average of $32.49 and a 200 day simple moving average of $31.52.

Institutional Investors Weigh In On Tenaris

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Tenaris by 21.3% in the third quarter. FMR LLC now owns 3,503,644 shares of the industrial products company’s stock valued at $111,381,000 after acquiring an additional 614,884 shares during the period. Van ECK Associates Corp increased its holdings in Tenaris by 10.9% during the 2nd quarter. Van ECK Associates Corp now owns 3,183,299 shares of the industrial products company’s stock valued at $97,154,000 after purchasing an additional 313,185 shares during the period. Renaissance Technologies LLC raised its position in Tenaris by 46.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,592,044 shares of the industrial products company’s stock valued at $79,109,000 after purchasing an additional 819,500 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Tenaris by 187.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,546,184 shares of the industrial products company’s stock worth $80,943,000 after buying an additional 1,660,300 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Tenaris by 3.3% in 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 buying an additional 56,935 shares during the last quarter. Hedge funds and other institutional investors own 10.45% of the company’s stock.

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.