Synalloy Co. (SYNL) Upgraded by TheStreet to C

TheStreet upgraded shares of Synalloy Co. (NASDAQ:SYNL) from a d+ rating to a c rating in a research note published on Thursday, April 13th.

Synalloy (NASDAQ:SYNL) traded up 0.88% during midday trading on Thursday, reaching $11.45. 41,196 shares of the company’s stock traded hands. The company’s 50-day moving average price is $12.50 and its 200 day moving average price is $11.36. The stock’s market capitalization is $99.36 million. Synalloy has a 52 week low of $6.56 and a 52 week high of $13.75.

Synalloy (NASDAQ:SYNL) last released its quarterly earnings data on Tuesday, May 9th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter. Synalloy had a positive return on equity of 0.03% and a negative net margin of 16.57%. The company had revenue of $42.20 million for the quarter. During the same quarter in the previous year, the firm posted $0.02 earnings per share. On average, equities research analysts expect that Synalloy will post $0.05 earnings per share for the current year.

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In related news, insider Fund Lp Privet acquired 55,735 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The shares were bought at an average cost of $12.31 per share, for a total transaction of $686,097.85. Following the purchase, the insider now owns 42,086 shares in the company, valued at approximately $518,078.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Privet Fund Management Llc acquired 24,800 shares of the firm’s stock in a transaction that occurred on Tuesday, March 28th. The shares were bought at an average price of $12.40 per share, for a total transaction of $307,520.00. Following the completion of the purchase, the insider now owns 17,000 shares in the company, valued at approximately $210,800. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 170,933 shares of company stock worth $2,112,713. 7.93% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Van Den Berg Management I Inc. raised its stake in Synalloy by 3.1% in the fourth quarter. Van Den Berg Management I Inc. now owns 634,968 shares of the industrial products company’s stock worth $6,953,000 after buying an additional 19,076 shares during the last quarter. Royce & Associates LP boosted its position in Synalloy by 0.6% in the first quarter. Royce & Associates LP now owns 632,333 shares of the industrial products company’s stock valued at $7,746,000 after buying an additional 3,800 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Synalloy 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in Synalloy 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 during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Synalloy 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 during the last quarter. Institutional investors own 45.98% of the company’s stock.

About Synalloy

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.

5 Day Chart for NASDAQ:SYNL

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