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

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

Separately, Stifel Nicolaus lowered their price objective 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 analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $38.67.

Tenaris Trading Down 0.4 %

Tenaris stock traded down $0.14 during trading hours on Tuesday, hitting $36.82. 789,714 shares of the stock traded hands, compared to its average volume of 1,961,507. Tenaris has a one year low of $27.24 and a one year high of $40.72. The company has a market cap of $21.41 billion, a PE ratio of 8.02 and a beta of 1.43. The firm’s 50-day moving average price is $32.49 and its two-hundred day moving average price is $31.52.

Institutional Trading of Tenaris

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