TheStreet Lowers Synalloy (SYNL) to C+
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.
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.
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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