Synalloy (NASDAQ:SYNL) Posts Quarterly Earnings Results
Synalloy (NASDAQ:SYNL) posted its quarterly earnings results on Tuesday. The industrial products company reported ($0.04) earnings per share for the quarter, Morningstar.com reports. The firm had revenue of $78.78 million for the quarter. Synalloy had a return on equity of 14.30% and a net margin of 2.71%.
Shares of SYNL stock traded down $0.09 on Wednesday, hitting $16.03. 5 shares of the stock were exchanged, compared to its average volume of 28,142. The company has a quick ratio of 1.17, a current ratio of 3.48 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $144.52 million, a price-to-earnings ratio of 9.60 and a beta of 0.09. Synalloy has a one year low of $12.45 and a one year high of $23.95. The firm has a 50 day moving average price of $15.95.
Hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its stake in shares of Synalloy by 517.9% during the 1st 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 stake in shares of Synalloy by 25.0% during the 1st 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 stake in shares of Synalloy by 41.3% during the 4th 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 bought a new position in shares of Synalloy during the 2nd quarter worth $156,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Synalloy during the 2nd quarter worth $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.
Featured Story: How Do Investors Open a Backdoor Roth IRA?
Receive News & Ratings for Synalloy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synalloy and related companies with MarketBeat.com's FREE daily email newsletter.