TheStreet lowered shares of Synalloy (NASDAQ:SYNL) from a b rating to a c+ rating in a research report report published on Wednesday morning.

Shares of SYNL opened at $23.10 on Wednesday. Synalloy has a twelve month low of $10.65 and a twelve month high of $24.80. The firm has a market capitalization of $206.85 million, a PE ratio of 16.67 and a beta of 0.11. The company has a current ratio of 3.93, a quick ratio of 1.57 and a debt-to-equity ratio of 0.55.

Synalloy (NASDAQ:SYNL) last announced its earnings results on Tuesday, August 7th. The industrial products company reported $0.70 earnings per share for the quarter. Synalloy had a net margin of 3.08% and a return on equity of 13.49%. The business had revenue of $71.89 million for the quarter.

In related news, Director Henry L. Guy purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, June 13th. The shares were purchased at an average cost of $19.89 per share, for a total transaction of $99,450.00. Following the completion of the acquisition, the director now owns 38,514 shares in the company, valued at approximately $766,043.46. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Murray H. Wright sold 10,000 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of the transaction, the director now owns 6,313 shares in the company, valued at $126,260. The disclosure for this sale can be found here. Corporate insiders own 7.57% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in shares of Synalloy by 109.6% in the fourth quarter. Wells Fargo & Company MN now owns 8,598 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 4,495 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Synalloy by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 412,620 shares of the industrial products company’s stock worth $5,921,000 after purchasing an additional 5,510 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Synalloy by 503.3% in the second quarter. Acadian Asset Management LLC now owns 10,081 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 8,410 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Synalloy by 7.5% in the fourth quarter. Renaissance Technologies LLC now owns 179,500 shares of the industrial products company’s stock worth $2,405,000 after purchasing an additional 12,600 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Synalloy in the second quarter worth about $306,000. Hedge funds and other institutional investors own 47.71% of the company’s stock.

About Synalloy

Synalloy Corporation engages in production and sale of stainless steel pipes, fiberglass, steel storage tanks, and specialty chemicals in the United States and internationally. The company operates in two segments, Metals and Specialty Chemicals. The Metals segment manufactures and sells stainless steel and other alloy pipes under the BRISMET trade name through authorized stocking distributors; and liquid storage solutions and separation equipment, as well as distributes seamless carbon pipes and tubes.

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