Synalloy Corporation (NASDAQ:SYNL) Posts Quarterly Earnings Results

Synalloy Corporation (NASDAQ:SYNL) issued its earnings results on Tuesday, August 8th. The industrial products company reported $0.23 earnings per share for the quarter, Morningstar.com reports. The business had revenue of $51.51 million during the quarter. Synalloy Corporation had a positive return on equity of 0.64% and a negative net margin of 1.54%.

Synalloy Corporation (NASDAQ:SYNL) traded up 0.45% during mid-day trading on Friday, reaching $11.15. The company’s stock had a trading volume of 5,889 shares. The firm’s market cap is $97.18 million. The stock’s 50 day moving average is $11.05 and its 200 day moving average is $11.61. Synalloy Corporation has a one year low of $6.90 and a one year high of $13.75.

In related news, CEO Craig C. Bram bought 7,061 shares of the company’s stock in a transaction on Friday, August 11th. The stock was bought at an average cost of $10.84 per share, with a total value of $76,541.24. Following the completion of the purchase, the chief executive officer now owns 177,802 shares in the company, valued at approximately $1,927,373.68. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Fund Lp Privet bought 19,280 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was bought at an average cost of $11.12 per share, with a total value of $214,393.60. Following the completion of the purchase, the insider now owns 49,086 shares of the company’s stock, valued at approximately $545,836.32. The disclosure for this purchase can be found here. Insiders have bought a total of 27,041 shares of company stock valued at $298,635 over the last ninety days. 10.60% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted 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 valued at $1,902,000 after buying an additional 8,200 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Synalloy Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 299,609 shares of the industrial products company’s stock valued at $3,400,000 after buying an additional 6,648 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $4,291,000 after buying an additional 9,091 shares in the last quarter. Deprince Race & Zollo Inc. boosted 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 valued at $5,907,000 after buying an additional 1,888 shares in the last quarter. Finally, Royce & Associates LP boosted 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 valued at $7,269,000 after buying an additional 8,119 shares in the last quarter. Institutional investors own 47.09% of the company’s stock.

Synalloy Corporation Company Profile

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.