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NEW YORK ( TheStreet) -- Tenaris (NYSE: TS) hit a new 52-week low Wednesday as it is currently trading at $28.58, below its previous 52-week low of $28.62 with 1.6 million shares traded as of 12:16 p.m. ET. Average volume has been 2.1 million shares over the past 30 days. Tenaris has a market cap of $17.5 billion and is part of the basic materials sector and metals & mining industry. Shares are down 39.5% year to date as of the close of trading on Tuesday. Tenaris S.A., through its subsidiaries, engages in the manufacture and sale of steel pipe products. The company has a P/E ratio of 15.6, above the average metals & mining industry P/E ratio of 14.3 and below the S&P 500 P/E ratio of 17.7.