Wells Fargo & Company MN trimmed its position in shares of Synalloy Co. (NASDAQ:SYNL) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,675 shares of the industrial products company’s stock after selling 11,540 shares during the period. Wells Fargo & Company MN owned approximately 1.61% of Synalloy worth $1,144,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of SYNL. BlackRock Inc. increased its position in Synalloy by 0.7% during the 4th quarter. BlackRock Inc. now owns 178,717 shares of the industrial products company’s stock worth $1,394,000 after purchasing an additional 1,287 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Synalloy by 43.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 80,305 shares of the industrial products company’s stock valued at $626,000 after buying an additional 24,215 shares during the last quarter. Finally, Deltec Asset Management LLC acquired a new stake in Synalloy during the 4th quarter worth approximately $108,000. 32.71% of the stock is owned by institutional investors.
In other news, VP Sarah M. Cunningham sold 8,431 shares of the firm’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $10.05, for a total transaction of $84,731.55. Following the completion of the transaction, the vice president now directly owns 13,887 shares in the company, valued at $139,564.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.23% of the company’s stock.
Synalloy (NASDAQ:SYNL) last issued its quarterly earnings data on Tuesday, March 9th. The industrial products company reported $0.01 earnings per share for the quarter. The company had revenue of $55.90 million for the quarter. Synalloy had a negative net margin of 7.30% and a negative return on equity of 3.74%.
Synalloy Company Profile
Synalloy Corporation manufactures and sells metals and specialty chemicals in the United States and internationally. The company's Metals segment offers stainless steel, galvanized, and other alloy pipes and tubes under the BRISMET trade name; liquid storage solutions and separation equipment; and ornamental stainless steel tubes under the ASTI trade name, as well as distributes seamless carbon pipes and tubes.
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