Synalloy (NASDAQ: SYNL – Get Rating) will report its quarterly earnings results after the market close on Tuesday, Aug. 9.Individuals interested in registering for the corporate earnings conference call can use this link to register.
Synalloy (NASDAQ: SYNL – Get Rated) last reported its earnings results on Tuesday, May 10.The industrial products company reported earnings per share of $0.99 for the quarter.Revenue from this business for the quarter was $116.22 million.Synalloy’s return on equity was 28.56% and its net profit margin was 7.72%.
SYNL stock was up $0.05 at $13.30 during Tuesday’s trading hours.The company’s stock traded at 50 shares, compared with its average volume of 17,404 shares.The company’s quick ratio is 1.18, its current ratio is 2.97, and its debt-to-equity ratio is 0.57.The company has a market cap of $136.19 million, a price-to-earnings ratio of 4.40, and a beta of 0.62.The company has a 50-day moving average of $14.65 and a 200-day moving average of $16.04.Synalloy’s 52-week low was $9.76 and its 52-week high was $19.20.
Separately, StockNews.com downgraded Synalloy to a “buy” from a “strong buy” in a research report on Friday, July 22.
In other news, CEO Christopher Gerald Hutter acquired 4,592 shares of Synalloy in a transaction that took place on Friday, May 13.The shares were purchased at an average cost of $15.00 per share for a total value of $68,880.00.Following the acquisition, the CEO now owns 210,168 shares of the company, worth $3,152,520.The purchase was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link.11.99% of the shares are held by corporate insiders.
Large investors have overweight or underweight the stock recently.Engineers Gate Manager LP purchased new shares in Synalloy for $256,000 in the first quarter.Raymond James & Associates purchased a new stake in Synalloy for $270,000 in the first quarter.BNY Mellon bought a new stake in Synalloy for $272,000 in the first quarter.State Street’s stake in Synalloy rose 5.2% in the first quarter.State Street Corporation now owns 31,028 shares of the industrial products company, valued at $498,000, after purchasing an additional 1,546 shares in the previous quarter.Finally, Vanguard Group Inc. increased its stake in Synalloy by 23.4% in the first quarter.Vanguard Group Inc. now owns 449,595 shares of the industrial products company’s stock, valued at $7,216,000, after purchasing an additional 85,292 shares in the previous quarter.37.88% of the stock is currently held by hedge funds and other institutional investors.
Synalloy Corporation, through its subsidiaries, manufactures and markets metals and specialty chemicals in the United States and internationally.The company’s metals segment primarily produces stainless steel, duplex and nickel alloy welded pipes and tubes; and galvanized carbon pipes, as well as related stainless steel pipe products.
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