Synalloy Co. (NASDAQ:SYNL) Director Henry L. Guy purchased 1,600 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were purchased at an average price of $15.40 per share, for a total transaction of $24,640.00. Following the completion of the purchase, the director now directly owns 40,129 shares of the company’s stock, valued at $617,986.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
NASDAQ:SYNL traded down $0.45 during trading hours on Monday, hitting $14.80. The company’s stock had a trading volume of 11,100 shares, compared to its average volume of 22,060. The firm has a market capitalization of $136.63 million, a PE ratio of 7.46 and a beta of 0.25. Synalloy Co. has a 52-week low of $12.45 and a 52-week high of $24.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.50 and a quick ratio of 1.43.
Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Synalloy by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 80,340 shares of the industrial products company’s stock worth $1,332,000 after purchasing an additional 3,813 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Synalloy by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 461,865 shares of the industrial products company’s stock worth $7,663,000 after purchasing an additional 13,120 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Synalloy by 41.3% during the fourth quarter. Bank of America Corp DE now owns 7,462 shares of the industrial products company’s stock worth $125,000 after buying an additional 2,182 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Synalloy by 37.5% during the fourth quarter. Bank of New York Mellon Corp now owns 56,480 shares of the industrial products company’s stock worth $937,000 after buying an additional 15,399 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Synalloy by 2.4% during the fourth quarter. BlackRock Inc. now owns 525,915 shares of the industrial products company’s stock worth $8,724,000 after buying an additional 12,460 shares during the period. 47.86% of the stock is currently owned by institutional investors.
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Synalloy Corporation engages in production and sale of stainless steel pipes, fiberglass, steel storage tanks, and specialty chemicals in the United States and internationally. The company operates in two segments, Metals and Specialty Chemicals. The Metals segment manufactures and sells stainless steel and other alloy pipes under the BRISMET trade name through authorized stocking distributors; and liquid storage solutions and separation equipment, as well as distributes seamless carbon pipes and tubes.
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