Todays Report: The Synalloy Corp. (SYNL) Position Maintained by GSA Capital Partners LLP

The Synalloy Corp. (SYNL) Position Maintained by GSA Capital Partners LLP

GSA Capital Partners LLP held its stake in shares of Synalloy Corp. (NASDAQ:SYNL) during the second quarter, Holdings Channel reports. The institutional investor owned 18,401 shares of the company’s stock at the end of the second quarter. GSA Capital Partners LLP owned 0.21% of Synalloy Corp. worth $141,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Van Den Berg Management I Inc. raised its stake in shares of Synalloy Corp. by 14.7% in the second quarter. Van Den Berg Management I Inc. now owns 595,011 shares of the company’s stock worth $4,558,000 after buying an additional 76,167 shares during the last quarter. Royce & Associates LP raised its stake 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 worth $4,614,000 after buying an additional 19,300 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Synalloy Corp. by 12.5% in the first quarter. Renaissance Technologies LLC now owns 114,500 shares of the company’s stock worth $907,000 after buying an additional 12,696 shares during the last quarter. Finally, Minerva Advisors LLC raised its stake in shares of Synalloy Corp. by 93.4% in the second quarter. Minerva Advisors LLC now owns 68,255 shares of the company’s stock worth $523,000 after buying an additional 32,955 shares during the last quarter. Institutional investors own 46.29% of the company’s stock.

Synalloy Corp. (NASDAQ:SYNL) traded up 0.11% on Wednesday, reaching $8.81. 15,110 shares of the company’s stock were exchanged. Synalloy Corp. has a one year low of $6.20 and a one year high of $10.55. The stock’s market cap is $76.28 million. The firm has a 50 day moving average of $8.16 and a 200-day moving average of $7.83.

Synalloy Corp. (NASDAQ:SYNL) last released its earnings results on Tuesday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.17. Synalloy Corp. had a positive return on equity of 1.29% and a negative net margin of 13.40%. The business had revenue of $34.90 million for the quarter, compared to analysts’ expectations of $39.50 million. Equities research analysts forecast that Synalloy Corp. will post $0.05 EPS for the current fiscal year.

Separately, Zacks Investment Research lowered shares of Synalloy Corp. from a “buy” rating to a “hold” rating in a report on Saturday, July 23rd.

In other news, VP Sarah M. Cunningham acquired 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was purchased at an average price of $7.32 per share, with a total value of $29,280.00. Following the completion of the acquisition, the vice president now owns 11,458 shares of the company’s stock, valued at approximately $83,872.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vincent W. White acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was purchased at an average cost of $7.50 per share, with a total value of $75,000.00. Following the acquisition, the director now directly owns 5,590 shares of the company’s stock, valued at approximately $41,925. The disclosure for this purchase can be found here. Insiders own 7.93% of the company’s stock.

Synalloy Corp. Company Profile

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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