Stock Investors Sell Off Shares of Tenaris, Down 1.2%

Published on Thu, 03/21/2013 - 10:30
By Adrienne Chilton in Market movers, TS, market movers, nyse:ts, tenaris

One of today's notable stocks in decline is Tenaris (NYSE:TS), down 1.2% to $40.45. The Dow is down 0.5% to 14,437 and the S&P is currently down 0.5% to 1,551.

Tenaris has overhead space with shares priced $40.45, or 9.5% below the average consensus analyst price target of $44.67. Tenaris shares should encounter resistance at the 50-day moving average (MA) of $41.02 and support at its 200-day MA of $39.25.

Tenaris S.A. manufactures seamless steel pipe products on a global basis. The Company also provides pipe handling, stocking, and distribution services to the oil and gas, energy, and mechanical industries. In addition, Tenaris supplies welded steel pipes for gas pipelines in South America.

Tenaris share prices have moved between a 52-week high of $44.88 and a 52-week low of $29.79 and are now trading 36% above that low price at $40.45 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.3%.

By Adrienne Chilton
achilton@fnno.com

Latest News from FNNO

U.S. Steel: 52-Week High Recently Eclips...

U.S. Steel (NYSE:X) traded at a new 52-week high today of $33.19. This new high was re ...

WellPoint Looks to Continue to Trade Abo...

Shares of WellPoint (NYSE:WLP) traded at a new 52-week high today of $116.50. So far t ...

Watch for Continued Gains in Shares of W...

Shares of Westmoreland Coal (AMEX:WLB) traded today at $43.84, breaking its 52-week hig ...

Recent 52-Week Low Surpassed in Shares o...

Shares of UBS (NYSE:UBS) traded at a new 52-week low today of $17.44. Approximately 4. ...

Grupo Televisa Looks to Continue to Trad...

Shares of Grupo Televisa (NYSE:TV) traded today at $36.18, breaking its 52-week high. ...

Shares of Trinity Industries Rise Above ...

Trinity Industries (NYSE:TRN) traded at a new 52-week high today of $47.83. This new h ...

Watch for Continued Gains in Shares of P...

Shares of Post Properties (NYSE:PPS) traded today at $55.82, breaking its 52-week high. ...

Pike Electric: The Losing Streak Continu...

Pike Electric (NYSE:PIKE) traded at a new 52-week low today of $8.10. This new low was ...