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Synalloy Co. (NASDAQ:SYNL - Get Rating) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 20,900 shares, an increase of 78.6% from the June 15th total of 11,700 shares. Currently, 0.2% of the company's stock are short sold. Based on an average trading volume of 27,300 shares, the short-interest ratio is presently 0.8 days. Wall Street Analyst Weigh In
Separately, StockNews.com raised shares of Synalloy from a "buy" rating to a "strong-buy" rating in a research report on Thursday.Synalloy Price Performance
Shares of SYNL opened at $13.18 on Friday. Synalloy has a 1-year low of $9.50 and a 1-year high of $19.20. The stock has a market cap of $134.96 million, a PE ratio of 4.38 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. The firm has a fifty day moving average price of $15.10 and a 200 day moving average price of $16.28.
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. Synalloy had a net margin of 7.72% and a return on equity of 28.56%. The firm had revenue of $116.22 million during the quarter. Insiders Place Their Bets
In other Synalloy news, CEO Christopher Gerald Hutter purchased 4,592 shares of the company's stock in a transaction on Friday, May 13th. The stock was acquired at an average price of $15.00 per share, for a total transaction of $68,880.00. Following the completion of the purchase, the chief executive officer now directly owns 210,168 shares in the company, valued at approximately $3,152,520. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 11.99% of the company's stock. Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its stake in Synalloy by 1.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 59,893 shares of the industrial products company's stock valued at $842,000 after purchasing an additional 1,030 shares during the period. Deltec Asset Management LLC increased its stake in Synalloy by 12.6% in the fourth quarter. Deltec Asset Management LLC now owns 12,895 shares of the industrial products company's stock valued at $212,000 after purchasing an additional 1,439 shares during the period. State Street Corp increased its stake in Synalloy by 5.2% in the first quarter. State Street Corp now owns 31,028 shares of the industrial products company's stock valued at $498,000 after purchasing an additional 1,546 shares during the period. Ritholtz Wealth Management increased its stake in Synalloy by 13.8% in the second quarter. Ritholtz Wealth Management now owns 13,397 shares of the industrial products company's stock valued at $188,000 after purchasing an additional 1,627 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in Synalloy in the fourth quarter valued at $80,000. 37.88% of the stock is currently owned by institutional investors and hedge funds. Synalloy Company Profile (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.See AlsoGet a free copy of the StockNews.com research report on Synalloy (SYNL)MarketBeat: Week in Review 7/11 – 7/15Should You Have These Two Banks In Your Portfolio?Is Coupang's Stock On The Verge Of A Turnaround?Verint Systems Stock is a Customer Engagement Play Why Shopify Stock Split…And is as Shoppable as Ever
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