Insider Buying: Synalloy Co. (NASDAQ:SYNL) Director Purchases 1,800 Shares of Stock
Synalloy Co. (NASDAQ:SYNL) Director Murray H. Wright bought 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was bought at an average price of $11.65 per share, for a total transaction of $20,970.00. Following the acquisition, the director now directly owns 1,615 shares of the company’s stock, valued at approximately $18,814.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
SYNL stock traded down $0.02 on Friday, hitting $11.64. The company had a trading volume of 12 shares, compared to its average volume of 9,165. Synalloy Co. has a 12-month low of $11.55 and a 12-month high of $19.65. The company has a current ratio of 3.49, a quick ratio of 1.18 and a debt-to-equity ratio of 1.06. The stock’s 50-day simple moving average is $13.73 and its 200 day simple moving average is $15.60. The stock has a market cap of $104.43 million and a price-to-earnings ratio of 68.29.
Hedge funds have recently modified their holdings of the stock. Barclays PLC raised its position in shares of Synalloy by 38.9% in the 3rd quarter. Barclays PLC now owns 7,688 shares of the industrial products company’s stock worth $122,000 after acquiring an additional 2,154 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Synalloy by 5.8% in the third quarter. California Public Employees Retirement System now owns 47,457 shares of the industrial products company’s stock worth $757,000 after buying an additional 2,600 shares in the last quarter. Heritage Wealth Advisors acquired a new stake in Synalloy during the third quarter worth about $239,000. PenderFund Capital Management Ltd. increased its position in Synalloy by 1,017.6% during the third quarter. PenderFund Capital Management Ltd. now owns 165,005 shares of the industrial products company’s stock worth $2,434,000 after purchasing an additional 150,241 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Synalloy by 10.3% during the third quarter. Rhumbline Advisers now owns 12,589 shares of the industrial products company’s stock worth $201,000 after purchasing an additional 1,176 shares during the last quarter. Institutional investors own 47.08% 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.
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