Posted by admin on Jul 13th, 2022
Synalloy Co. (NASDAQ:SYNL – Get Rating)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.33 and traded as low as $13.11. Synalloy shares last traded at $13.15, with a volume of 17,583 shares.
Separately, StockNews.com cut shares of Synalloy from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 7th.
The firm has a market cap of $134.66 million, a PE ratio of 4.37 and a beta of 0.66. The company has a 50-day simple moving average of $15.27 and a two-hundred day simple moving average of $16.33. The company has a quick ratio of 1.18, a current ratio of 2.97 and a debt-to-equity ratio of 0.57.
Synalloy (NASDAQ:SYNL – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $0.99 earnings per share for the quarter. The company had revenue of $116.22 million during the quarter. Synalloy had a return on equity of 28.56% and a net margin of 7.72%.
In related news, CEO Christopher Gerald Hutter acquired 4,592 shares of the company’s stock in a transaction dated Friday, May 13th. The stock was purchased at an average price of $15.00 per share, with a total value of $68,880.00. Following the completion of the purchase, the chief executive officer now owns 210,168 shares in the company, valued at approximately $3,152,520. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 11.99% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Deltec Asset Management LLC grew its position in shares of Synalloy by 12.6% during the 4th quarter. Deltec Asset Management LLC now owns 12,895 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 1,439 shares during the period. State Street Corp grew its stake in Synalloy by 5.2% during the first quarter. State Street Corp now owns 31,028 shares of the industrial products company’s stock valued at $498,000 after acquiring an additional 1,546 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Synalloy in the fourth quarter worth about $80,000. Minerva Advisors LLC boosted its position in shares of Synalloy by 10.0% during the 4th quarter. Minerva Advisors LLC now owns 61,453 shares of the industrial products company’s stock valued at $995,000 after acquiring an additional 5,603 shares during the last quarter. Finally, Ritholtz Wealth Management purchased a new position in shares of Synalloy in the 1st quarter worth $189,000. 37.88% of the stock is owned by hedge funds and other institutional investors.
Synalloy Corporation, through its subsidiaries, manufactures and sells metals and specialty chemicals in the United States and internationally. The company's Metals segment manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and galvanized carbon tubes, as well as related stainless pipe products.
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