Carrhae Capital significantly invests in Tenaris despite a downgrade to "Hold" rating.

Carrhae Capital LLP bought 437,806 shares of Tenaris S.A., valued at about $16.5 million, making it one of their largest holdings. Tenaris recently beat earnings estimates, reporting $0.94 per share. Despite this, StockNews.com downgraded Tenaris from a "Buy" to a "Hold" rating, with a price target of $46.00. The company also announced a dividend of $0.56 per share, to be paid on May 21st.