Synalloy (NASDAQ:SYNL) Share Price Crosses Above Two Hundred Day Moving Average of $10.26

Synalloy Co. (NASDAQ:SYNL) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.26 and traded as high as $10.54. Synalloy shares last traded at $10.54, with a volume of 900 shares changing hands.

The business’s fifty day moving average is $10.98 and its two-hundred day moving average is $10.28. The company has a quick ratio of 1.30, a current ratio of 3.54 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $97.32 million, a PE ratio of -6.29 and a beta of 0.57.

Synalloy (NASDAQ:SYNL) last posted its earnings results on Monday, August 9th. The industrial products company reported $0.31 earnings per share for the quarter. Synalloy had a negative net margin of 5.65% and a positive return on equity of 3.62%. The firm had revenue of $83.09 million during the quarter.

In other news, Director Christopher Gerald Hutter acquired 4,990 shares of the company’s stock in a transaction on Tuesday, August 17th. The stock was bought at an average cost of $10.89 per share, with a total value of $54,341.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SYNL. Globeflex Capital L P bought a new stake in shares of Synalloy during the second quarter worth $335,000. State Street Corp bought a new stake in shares of Synalloy in the second quarter valued at about $290,000. Renaissance Technologies LLC raised its holdings in shares of Synalloy by 10.3% in the first quarter. Renaissance Technologies LLC now owns 151,800 shares of the industrial products company’s stock valued at $1,342,000 after acquiring an additional 14,200 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Synalloy by 7.2% in the second quarter. Wells Fargo & Company MN now owns 171,670 shares of the industrial products company’s stock valued at $1,714,000 after acquiring an additional 11,544 shares in the last quarter. Finally, Gabelli Funds LLC bought a new stake in shares of Synalloy in the second quarter valued at about $110,000. Institutional investors and hedge funds own 19.29% of the company’s stock.

About Synalloy (NASDAQ:SYNL)

Synalloy Corp. engages in the production of stainless steel pipe, fabricator of stainless and carbon steel piping systems, and specialty chemicals. It operates through Metals and Specialty Chemicals segments. The Metals segment operates as Bristol Metals LLC (BRISMET), Palmer of Texas Tanks, Inc (Palmer), and Specialty Pipe & Tube, Inc (Specialty).

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