Deprince Race & Zollo Inc. decreased its stake in Synalloy Corp. (NASDAQ:SYNL) by 1.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 384,488 shares of the company’s stock after selling 4,263 shares during the period. Deprince Race & Zollo Inc.’s holdings in Synalloy Corp. were worth $2,945,000 at the end of the most recent reporting period.
Separately, Royce & Associates LP increased its position in shares of Synalloy Corp. by 3.4% in the first quarter. Royce & Associates LP now owns 582,533 shares of the company’s stock valued at $4,614,000 after buying an additional 19,300 shares during the period. Hedge funds and other institutional investors own 46.29% of the company’s stock.
Shares of Synalloy Corp. (NASDAQ:SYNL) traded up 7.36% during mid-day trading on Friday, hitting $10.06. 33,401 shares of the company traded hands. The firm’s 50 day moving average price is $8.36 and its 200-day moving average price is $7.85. Synalloy Corp. has a 1-year low of $6.20 and a 1-year high of $10.55. The stock’s market capitalization is $87.10 million.
Synalloy Corp. (NASDAQ:SYNL) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.17. The business earned $34.90 million during the quarter, compared to the consensus estimate of $39.50 million. Synalloy Corp. had a positive return on equity of 1.29% and a negative net margin of 13.40%. On average, equities research analysts forecast that Synalloy Corp. will post $0.05 EPS for the current year.
Separately, Zacks Investment Research downgraded shares of Synalloy Corp. from a “buy” rating to a “hold” rating in a report on Saturday, July 23rd.
In other Synalloy Corp. news, VP Sarah M. Cunningham acquired 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The stock was bought at an average cost of $7.32 per share, with a total value of $29,280.00. Following the acquisition, the vice president now owns 11,458 shares in the company, valued at $83,872.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry L. Guy acquired 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was acquired at an average cost of $7.45 per share, with a total value of $149,000.00. Following the completion of the acquisition, the director now owns 32,209 shares in the company, valued at approximately $239,957.05. The disclosure for this purchase can be found here. 7.93% of the stock is currently owned by corporate insiders.
About Synalloy Corp.
Synalloy Corporation is a chemical manufacturing company. The Company operates through two segments: the Metals Segment and the Specialty Chemicals Segment. The Company’s Metals Segment comprises three subsidiaries: Synalloy Metals, Inc, which owns Bristol Metals, LLC (BRISMET), located in Bristol, Tennessee; Palmer of Texas Tanks, Inc (Palmer), located in Andrews, Texas; and Specialty Pipe & Tube, Inc (Specialty), located in Mineral Ridge, Ohio and Houston, Texas.
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