Synalloy (NASDAQ:SYNL) Stock Price Passes Above Two Hundred Day Moving Average of $0.00

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Synalloy Co. (NASDAQ:SYNL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $16.18. Synalloy shares last traded at $16.18, with a volume of 698 shares traded.

The stock has a market cap of $144.96 million, a price-to-earnings ratio of 9.86 and a beta of 0.09. The business has a fifty day moving average price of $16.75. The company has a quick ratio of 1.17, a current ratio of 3.48 and a debt-to-equity ratio of 1.15.

Synalloy (NASDAQ:SYNL) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.07 earnings per share for the quarter. Synalloy had a net margin of 2.71% and a return on equity of 14.30%. The business had revenue of $84.80 million for the quarter.

A number of institutional investors have recently added to or reduced their stakes in SYNL. BNP Paribas Arbitrage SA boosted its stake in Synalloy by 517.9% in the first quarter. BNP Paribas Arbitrage SA now owns 1,761 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 1,476 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Synalloy by 25.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,000 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 1,000 shares during the last quarter. Bank of America Corp DE boosted its stake in Synalloy by 41.3% in the fourth quarter. Bank of America Corp DE now owns 7,462 shares of the industrial products company’s stock valued at $125,000 after acquiring an additional 2,182 shares during the last quarter. Rhumbline Advisers purchased a new position in Synalloy in the fourth quarter valued at about $185,000. Finally, First Trust Advisors LP boosted its stake in Synalloy by 19.6% in the fourth quarter. First Trust Advisors LP now owns 14,869 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 2,436 shares during the last quarter. Institutional investors and hedge funds own 45.29% of the company’s stock.

About Synalloy (NASDAQ:SYNL)

Synalloy Corporation manufactures and sells metals and specialty chemicals in the United States and internationally. The company's Metals segment offers stainless steel, galvanized, and other alloy pipes and tubes under the BRISMET trade name through authorized stocking distributors; liquid storage solutions and separation equipment; and ornamental stainless steel tubing, as well as distributes seamless carbon pipes and tubes.

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