Tenaris (NYSE:TS) Stock Price Down 8.9%

Tenaris S.A. (NYSE:TSGet Rating)’s stock price was down 8.9% during mid-day trading on Friday . The company traded as low as $24.07 and last traded at $24.16. Approximately 73,601 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 1,718,875 shares. The stock had previously closed at $26.51.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TS. Morgan Stanley dropped their target price on Tenaris from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Jefferies Financial Group upgraded Tenaris from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $35.70 to $46.00 in a report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Tenaris has an average rating of “Moderate Buy” and an average price target of $32.64.

Tenaris Trading Down 9.0 %

The firm has a market cap of $14.24 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 0.25 and a beta of 1.52. The stock has a 50-day moving average of $26.89 and a 200-day moving average of $28.83.

Institutional Trading of Tenaris

Several hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE raised its stake in Tenaris by 3.9% during the 2nd quarter. US Bancorp DE now owns 9,933 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 369 shares in the last quarter. CWM LLC raised its stake in shares of Tenaris by 113.4% in the 2nd quarter. CWM LLC now owns 1,033 shares of the industrial products company’s stock worth $27,000 after buying an additional 549 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Tenaris by 3.3% in the 1st quarter. Wetherby Asset Management Inc. now owns 17,634 shares of the industrial products company’s stock worth $530,000 after buying an additional 557 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its stake in shares of Tenaris by 4.7% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 14,524 shares of the industrial products company’s stock worth $437,000 after buying an additional 648 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Tenaris by 155.8% in the 2nd quarter. Captrust Financial Advisors now owns 1,110 shares of the industrial products company’s stock worth $29,000 after buying an additional 676 shares in the last quarter. Institutional investors own 12.28% of the company’s stock.

About Tenaris

(Get Rating)

Tenaris SA, together with its subsidiaries, produces and sells seamless and welded steel tubular products; and provides related services for the oil and gas industry, and other industrial applications. The company offers steel casings, tubing products, mechanical and structural pipes, cold-drawn pipes, and premium joints and couplings; coiled tubing products for oil and gas drilling and workovers, and subsea pipelines; and umbilical tubing products; and tubular accessories.

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