Synalloy Corporation (SYNL) Posts Earnings Results
Synalloy Corporation (NASDAQ:SYNL) announced its earnings results on Tuesday. The industrial products company reported $0.23 earnings per share (EPS) for the quarter, Morningstar.com reports. Synalloy Corporation had a negative return on equity of 1.56% and a negative net margin of 3.45%.
Shares of Synalloy Corporation (NASDAQ:SYNL) opened at 10.975 on Wednesday. The firm’s market capitalization is $95.24 million. Synalloy Corporation has a 52-week low of $6.56 and a 52-week high of $13.75. The company’s 50 day moving average price is $11.07 and its 200 day moving average price is $11.63.
In other news, insider Fund Lp Privet acquired 19,280 shares of Synalloy Corporation stock in a transaction on Tuesday, June 20th. The stock was bought at an average price of $11.12 per share, for a total transaction of $214,393.60. Following the transaction, the insider now owns 49,086 shares of the company’s stock, valued at $545,836.32. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 10.60% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in SYNL. Dimensional Fund Advisors LP increased its stake in shares of Synalloy Corporation by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 391,908 shares of the industrial products company’s stock worth $4,291,000 after buying an additional 9,091 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Synalloy Corporation by 5.0% in the fourth quarter. Renaissance Technologies LLC now owns 173,700 shares of the industrial products company’s stock worth $1,902,000 after buying an additional 8,200 shares in the last quarter. Royce & Associates LP increased its stake in shares of Synalloy Corporation by 1.3% in the second quarter. Royce & Associates LP now owns 640,452 shares of the industrial products company’s stock worth $7,269,000 after buying an additional 8,119 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in shares of Synalloy Corporation by 0.4% in the first quarter. Deprince Race & Zollo Inc. now owns 482,186 shares of the industrial products company’s stock worth $5,907,000 after buying an additional 1,888 shares in the last quarter. Institutional investors own 47.39% of the company’s stock.
Separately, TheStreet raised Synalloy Corporation from a “d+” rating to a “c” rating in a research report on Thursday, April 13th.
About Synalloy Corporation
Synalloy Corporation is a chemical manufacturing company. The Company operates through two segments: the Metals Segment and the Specialty Chemicals Segment. The Company’s Metals Segment comprises three subsidiaries: Synalloy Metals, Inc, which owns Bristol Metals, LLC (BRISMET), located in Bristol, Tennessee; Palmer of Texas Tanks, Inc (Palmer), located in Andrews, Texas; and Specialty Pipe & Tube, Inc (Specialty), located in Mineral Ridge, Ohio and Houston, Texas.
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