3 Industrial Goods Stocks Pushing The Sector Higher

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Two out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 8 points (0.0%) at 16,964 as of Wednesday, July 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,180 issues advancing vs. 1,847 declining with 143 unchanged.

The Industrial Goods sector currently sits down 0.2% versus the S&P 500, which is unchanged. A company within the sector that increased today was Weyerhaeuser ( WY), up 1.3%. On the negative front, top decliners within the sector include Waste Management ( WM), down 0.8%, Raytheon ( RTN), down 0.8% and Precision Castparts ( PCP), down 0.6%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. Tenaris ( TS) is one of the companies pushing the Industrial Goods sector higher today. As of noon trading, Tenaris is up $0.29 (0.6%) to $47.19 on light volume. Thus far, 323,379 shares of Tenaris exchanged hands as compared to its average daily volume of 1.1 million shares. The stock has ranged in price between $46.90-$47.40 after having opened the day at $46.94 as compared to the previous trading day's close of $46.90.

Tenaris S.A., through its subsidiaries, is engaged in the steel pipe manufacturing and distribution activities. Tenaris has a market cap of $27.8 billion and is part of the metals & mining industry. Shares are up 7.3% year-to-date as of the close of trading on Tuesday. Currently there is 1 analyst who rates Tenaris a buy, 1 analyst rates it a sell, and 8 rate it a hold.

TheStreet Ratings rates Tenaris as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Tenaris Ratings Report now.

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