3 Stocks Pulling The Industrial Goods Sector Downward

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All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 77 points (-0.5%) at 16,493 as of Tuesday, Aug. 5, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,020 issues advancing vs. 1,966 declining with 149 unchanged.

The Industrial Goods sector currently is unchanged today versus the S&P 500, which is down 0.6%. On the negative front, top decliners within the sector include Louisiana-Pacific ( LPX), down 6.7%, Fastenal ( FAST), down 2.3%, Nidec ( NJ), down 1.6%, ABB ( ABB), down 1.1% and Sherwin-Williams ( SHW), down 0.6%. Top gainers within the sector include Mueller Water Products ( MWA), up 13.6%, Ametek ( AME), up 2.9%, TransDigm Group ( TDG), up 2.2%, Textron ( TXT), up 1.0% and Raytheon ( RTN), up 0.8%.

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

3. Tenaris ( TS) is one of the companies pushing the Industrial Goods sector lower today. As of noon trading, Tenaris is down $0.44 (-1.0%) to $43.02 on light volume. Thus far, 346,759 shares of Tenaris exchanged hands as compared to its average daily volume of 1.0 million shares. The stock has ranged in price between $42.95-$43.41 after having opened the day at $43.28 as compared to the previous trading day's close of $43.46.

Tenaris S.A., through its subsidiaries, is engaged in the steel pipe manufacturing and distribution activities. Tenaris has a market cap of $25.3 billion and is part of the metals & mining industry. Shares are down 0.5% year-to-date as of the close of trading on Monday. Currently there is 1 analyst that rates Tenaris a buy, 1 analyst rates it a sell, and 7 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 and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Tenaris Ratings Report now.

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Weak On High Volume: Tenaris (TS)