Synalloy Corporation (SYNL) Director Purchases $90,225.80 in Stock
Synalloy Corporation (NASDAQ:SYNL) Director Murray H. Wright purchased 8,092 shares of the stock in a transaction dated Friday, August 25th. The stock was acquired at an average cost of $11.15 per share, for a total transaction of $90,225.80. Following the transaction, the director now owns 6,313 shares of the company’s stock, valued at $70,389.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Synalloy Corporation (NASDAQ SYNL) traded up 0.90% during mid-day trading on Tuesday, hitting $11.25. 19,686 shares of the stock traded hands. The company’s 50 day moving average price is $11.06 and its 200-day moving average price is $11.57. Synalloy Corporation has a 1-year low of $6.90 and a 1-year high of $13.75. The stock’s market cap is $98.06 million.
Synalloy Corporation (NASDAQ:SYNL) last released its quarterly earnings data on Tuesday, August 8th. The industrial products company reported $0.23 EPS for the quarter. Synalloy Corporation had a positive return on equity of 0.64% and a negative net margin of 1.54%. The business had revenue of $51.51 million for the quarter. Analysts predict that Synalloy Corporation will post $0.05 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Synalloy Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 299,609 shares of the industrial products company’s stock valued at $3,400,000 after buying an additional 6,648 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in Synalloy Corporation 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 in the last quarter. Finally, Royce & Associates LP raised its stake in Synalloy Corporation by 1.3% in the second quarter. Royce & Associates LP now owns 640,452 shares of the industrial products company’s stock valued at $7,269,000 after buying an additional 8,119 shares in the last quarter. Institutional investors and hedge funds own 47.58% of the company’s stock.
About Synalloy Corporation
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.
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