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Synalloy (NASDAQ:SYNL - Get Rating) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Friday.Synalloy Price Performance
NASDAQ:SYNL opened at $13.68 on Friday. The company has a 50 day moving average price of $14.97 and a 200-day moving average price of $16.21. Synalloy has a 1-year low of $9.69 and a 1-year high of $19.20. The firm has a market cap of $140.08 million, a price-to-earnings ratio of 4.54 and a beta of 0.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.97 and a quick ratio of 1.18.
Synalloy (NASDAQ:SYNL - Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter. Synalloy had a net margin of 7.72% and a return on equity of 28.56%. The firm had revenue of $116.22 million for the quarter. Insider Activity at Synalloy
In related news, CEO Christopher Gerald Hutter purchased 4,592 shares of the company's stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average price of $15.00 per share, with a total value of $68,880.00. Following the purchase, the chief executive officer now owns 210,168 shares of the company's stock, valued at $3,152,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.99% of the stock is owned by corporate insiders. Institutional Investors Weigh In On Synalloy
Several institutional investors and hedge funds have recently added to or reduced their stakes in SYNL. Hillsdale Investment Management Inc. boosted its stake in Synalloy by 1,993.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 101,342 shares of the industrial products company's stock worth $1,627,000 after purchasing an additional 96,500 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Synalloy during the 4th quarter valued at about $1,540,000. EAM Investors LLC acquired a new position in shares of Synalloy during the 1st quarter valued at about $1,472,000. Vanguard Group Inc. boosted its position in shares of Synalloy by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 449,595 shares of the industrial products company's stock valued at $7,216,000 after acquiring an additional 85,292 shares during the last quarter. Finally, Avidian Wealth Solutions LLC acquired a new position in shares of Synalloy during the 1st quarter valued at about $560,000. Institutional investors and hedge funds own 37.88% of the company's stock. About Synalloy (Get Rating)
Synalloy Corporation, through its subsidiaries, manufactures and sells metals and specialty chemicals in the United States and internationally. The company's Metals segment manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and galvanized carbon tubes, as well as related stainless pipe products.Read MoreGet a free copy of the StockNews.com research report on Synalloy (SYNL)Salesforce Stock is a Resilient Best-of Breed CRM Play How the NYSE and NASDAQ are Different, Why That Matters to InvestorsUse High Beta Stocks to Maximize Your Investing ProfitsStock Market Holidays 2022-2025 - Here’s When the NYSE and NASDAQ Will be ClosedWhy Will Highly-Valued Tesla Move Higher? Results
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