Synalloy (NASDAQ:SYNL) announced its quarterly earnings data on Tuesday. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, Morningstar.com reports. Synalloy had a net margin of 3.08% and a return on equity of 13.49%. The company had revenue of $77.79 million during the quarter. Synalloy updated its FY 2018 guidance to EPS.
Shares of SYNL stock traded down $0.93 during mid-day trading on Wednesday, reaching $17.63. The company’s stock had a trading volume of 34,300 shares, compared to its average volume of 21,321. Synalloy has a 1-year low of $11.88 and a 1-year high of $24.80. The stock has a market cap of $174.81 million, a price-to-earnings ratio of 14.09 and a beta of 0.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.57 and a current ratio of 3.93.
In other Synalloy news, CEO Craig C. Bram acquired 1,800 shares of the company’s stock in a transaction dated Tuesday, September 18th. The stock was bought at an average price of $22.27 per share, for a total transaction of $40,086.00. Following the purchase, the chief executive officer now owns 226,441 shares in the company, valued at approximately $5,042,841.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.57% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Synalloy by 103.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,678 shares of the industrial products company’s stock valued at $199,000 after buying an additional 4,415 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Synalloy during the 3rd quarter worth about $224,000. Acadian Asset Management LLC increased its position in shares of Synalloy by 503.3% during the 2nd 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 in the last quarter. First Trust Advisors LP acquired a new stake in shares of Synalloy during the 3rd quarter worth about $284,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Synalloy during the 2nd quarter worth about $306,000. Institutional investors own 54.96% of the company’s stock.
Separately, TheStreet upgraded shares of Synalloy from a “c+” rating to a “b” rating in a research note on Tuesday, July 10th.
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Synalloy Company Profile
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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