Synalloy Co. (NASDAQ: SYNL) Insider Privet Fund Management LLC purchases 219,523 shares

The insider of Synalloy Co. (NASDAQ: SYNL) Privet Fund Management Llc bought 219,523 shares of the company in a trade dated Wednesday, December 22. The shares were purchased at an average cost of $ 12.75 per share, for a total value of $ 2,798,918.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC’s website.

SYNL shares traded up $ 0.19 in the midday session Thursday, reaching $ 15.19. 26,482 shares were traded, for an average volume of 26,547. Synalloy Co. has a 12-month low of $ 6.75 and a 12-month high of $ 15.37. The company has a 50-day simple moving average of $ 13.14 and a 200-day simple moving average of $ 11.48. The company has a quick ratio of 1.08, a current ratio of 3.05, and a debt ratio of 0.51. The company has a market cap of $ 142.36 million, a price-to-earnings ratio of 42.19 and a beta of 0.61.

Synalloy (NASDAQ: SYNL) last released its quarterly results on Tuesday, November 9. The industrials company reported earnings of $ 0.87 per share for the quarter. The company reported sales of $ 86.18 million in the quarter. Synalloy had a return on equity of 14.43% and a net margin of 1.22%.

Separately, TheStreet downgraded Synalloy from a “d +” note to a “c” note in a Thursday, November 11th research note.

Several hedge funds and other institutional investors recently changed their holdings to SYNL. Morgan Stanley increased its stake in Synalloy shares by 45.3% during the 1st quarter. Morgan Stanley now owns 10,913 shares of the industrials company valued at $ 96,000 after acquiring an additional 3,400 shares in the last quarter. Globeflex Capital LP acquired a new position in shares of Synalloy during the 2nd quarter valued at approximately $ 335,000. Gabelli Funds LLC acquired a new position in shares of Synalloy during the 2nd quarter valued at approximately $ 110,000. State Street Corp acquired a new position in shares of Synalloy during the 2nd quarter valued at approximately $ 290,000. Finally, Bank of America Corp DE increased its stake in Synalloy shares by 14,179.4% during the 2nd quarter. Bank of America Corp DE now owns 4,855 shares of the industrial products company valued at $ 48,000 after acquiring an additional 4,821 shares in the last quarter. 19.27% ​​of the shares are currently held by institutional investors and hedge funds.

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About Synalloy

Synalloy Corp. is engaged in the production of stainless steel pipe, the manufacture of stainless steel and carbon steel pipe systems and specialty chemicals. It operates through the metals and specialty chemicals segments. The Metals segment operates under the names of Bristol Metals LLC (BRISMET), Palmer of Texas Tanks, Inc (Palmer) and Specialty Pipe & Tube, Inc (Specialty).

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Insider buys and sells by quarter for Synalloy (NASDAQ: SYNL)

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