Synalloy (NASDAQ:SYNL) Posts Quarterly Earnings Results
Synalloy (NASDAQ:SYNL) posted its quarterly earnings results on Tuesday. The industrial products company reported ($0.04) EPS for the quarter, Morningstar.com reports. Synalloy had a net margin of 2.71% and a return on equity of 14.30%. The company had revenue of $78.78 million during the quarter.
Shares of NASDAQ:SYNL traded down $0.09 during midday trading on Wednesday, hitting $16.03. The company had a trading volume of 5 shares, compared to its average volume of 28,142. Synalloy has a twelve month low of $12.45 and a twelve month high of $23.95. The company has a current ratio of 3.48, a quick ratio of 1.17 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $144.52 million, a PE ratio of 9.60 and a beta of 0.09. The firm’s 50-day moving average is $15.95.
Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA grew its position in Synalloy by 517.9% in the first quarter. BNP Paribas Arbitrage SA now owns 1,761 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 1,476 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Synalloy by 25.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,000 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 1,000 shares during the period. Bank of America Corp DE grew its position in Synalloy by 41.3% in the fourth quarter. Bank of America Corp DE now owns 7,462 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 2,182 shares during the period. Deltec Asset Management LLC purchased a new position in Synalloy in the second quarter worth approximately $156,000. Finally, Panagora Asset Management Inc. purchased a new position in Synalloy in the second quarter worth approximately $223,000. Institutional investors own 46.30% of the company’s stock.
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 through authorized stocking distributors; liquid storage solutions and separation equipment; and ornamental stainless steel tubing, as well as distributes seamless carbon pipes and tubes.
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