Synalloy Co. (NASDAQ:SYNL)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.37 and traded as low as $15.77. Synalloy shares last traded at $15.80, with a volume of 400 shares changing hands.

The company has a quick ratio of 1.14, a current ratio of 3.34 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $141.76 million, a PE ratio of 17.51 and a beta of 0.08. The company has a 50-day moving average of $16.04 and a 200 day moving average of $16.38.

Synalloy (NASDAQ:SYNL) last posted its quarterly earnings results on Tuesday, August 13th. The industrial products company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $78.78 million for the quarter. Synalloy had a net margin of 1.40% and a return on equity of 7.70%.

A number of hedge funds and other institutional investors have recently modified their holdings of SYNL. Vanguard Group Inc. boosted its stake in Synalloy by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 423,310 shares of the industrial products company’s stock worth $6,612,000 after purchasing an additional 9,707 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Synalloy by 8.2% during the 2nd quarter. BlackRock Inc. now owns 550,819 shares of the industrial products company’s stock worth $8,604,000 after acquiring an additional 41,856 shares during the last quarter. Northern Trust Corp grew its holdings in Synalloy by 3.1% during the second quarter. Northern Trust Corp now owns 93,741 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 2,779 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Synalloy during the 2nd quarter valued at approximately $223,000. Finally, Wells Fargo & Company MN boosted its position in shares of Synalloy by 391.8% in the second quarter. Wells Fargo & Company MN now owns 86,432 shares of the industrial products company’s stock worth $1,350,000 after purchasing an additional 68,859 shares during the period. 46.09% of the stock is owned by institutional investors.

About Synalloy (NASDAQ:SYNL)

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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