Posted by admin on Aug 7th, 2022

Synalloy (NASDAQ:SYNL – Get Rating) is set to issue its quarterly earnings data after the market closes on Tuesday, August 9th. Parties that are interested in participating in the company’s conference call can do so using this link.

Synalloy (NASDAQ:SYNL – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The industrial products company reported $0.99 earnings per share for the quarter. The business had revenue of $116.22 million for the quarter. Synalloy had a return on equity of 28.56% and a net margin of 7.72%.

Shares of Synalloy stock opened at $12.75 on Friday. The company has a current ratio of 2.97, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The business’s 50 day simple moving average is $14.42 and its 200-day simple moving average is $15.93. The stock has a market capitalization of $130.56 million, a price-to-earnings ratio of 4.24 and a beta of 0.62. Synalloy has a twelve month low of $9.76 and a twelve month high of $19.20.

In other Synalloy news, CEO Christopher Gerald Hutter bought 4,592 shares of the stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $68,880.00. Following the transaction, the chief executive officer now directly owns 210,168 shares in the company, valued at $3,152,520. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.99% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in SYNL. Raymond James & Associates bought a new position in Synalloy during the first quarter valued at about $270,000. Bank of New York Mellon Corp bought a new stake in Synalloy in the first quarter worth about $272,000. Dimensional Fund Advisors LP raised its position in Synalloy by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 463,591 shares of the industrial products company’s stock worth $7,441,000 after acquiring an additional 21,784 shares in the last quarter. Vanguard Group Inc. raised its position in Synalloy by 23.4% in the first quarter. Vanguard Group Inc. now owns 449,595 shares of the industrial products company’s stock worth $7,216,000 after acquiring an additional 85,292 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Synalloy in the first quarter worth about $256,000. 37.88% of the stock is currently owned by institutional investors and hedge funds.

Separately, StockNews.com cut Synalloy from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 22nd.

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.

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