Shares of Tenaris SA (NYSE:TS) fell 3.3% during trading on Wednesday . The company traded as low as $27.96 and last traded at $28.03, with a volume of 1,799,221 shares. The stock had previously closed at $28.98.

A number of research firms have recently commented on TS. Scotiabank downgraded Tenaris SA from a “focus list” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $31.00 in a report on Monday, May 2nd. Howard Weil downgraded Tenaris SA from a “focus stock” rating to a “sector outperform” rating and upped their price objective for the stock from $28.00 to $31.00 in a report on Monday, May 2nd. Credit Suisse Group AG downgraded Tenaris SA from a “neutral” rating to an “underperform” rating in a report on Monday, April 25th. Zacks Investment Research downgraded Tenaris SA from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, Citigroup Inc. upgraded Tenaris SA from a “sell” rating to a “neutral” rating and increased their price target for the company from $19.00 to $28.00 in a report on Wednesday, April 20th. Four analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Tenaris SA has an average rating of “Hold” and a consensus price target of $29.10.

The firm’s market capitalization is $16.63 billion. The firm’s 50 day moving average is $27.86 and its 200 day moving average is $24.55.

Tenaris SA (NYSE:TS) last issued its earnings results on Thursday, April 28th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Analysts predict that Tenaris SA will post $0.24 EPS for the current fiscal year.

Several large investors recently modified their holdings of the stock. Profund Advisors LLC raised its stake in shares of Tenaris SA by 16.7% in the fourth quarter. Profund Advisors LLC now owns 54,991 shares of the company’s stock worth $1,309,000 after buying an additional 7,874 shares during the period. Morgan Stanley raised its stake in shares of Tenaris SA by 47.3% in the fourth quarter. Morgan Stanley now owns 93,780 shares of the company’s stock worth $2,231,000 after buying an additional 30,130 shares during the period. Deere & Co. raised its stake in shares of Tenaris SA by 19.8% in the fourth quarter. Deere & Co. now owns 42,301 shares of the company’s stock worth $1,007,000 after buying an additional 6,990 shares during the period. Finally, I.G. Investment Management LTD. raised its stake in shares of Tenaris SA by 2.5% in the fourth quarter. I.G. Investment Management LTD. now owns 139,014 shares of the company’s stock worth $3,309,000 after buying an additional 3,400 shares during the period.

Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods used in drilling operations, and for other industrial applications with production processes.

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