State Street Corp raised its holdings in Synalloy Co. (NASDAQ:SYNL) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 135,729 shares of the industrial products company’s stock after purchasing an additional 5,179 shares during the quarter. State Street Corp owned approximately 1.50% of Synalloy worth $1,185,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of SYNL. Goldman Sachs Group Inc. bought a new position in Synalloy in the 4th quarter valued at $169,000. BlackRock Inc. raised its position in Synalloy by 0.8% in the 1st quarter. BlackRock Inc. now owns 577,731 shares of the industrial products company’s stock valued at $5,044,000 after purchasing an additional 4,794 shares during the last quarter. UBS Group AG raised its position in Synalloy by 41.8% in the 4th quarter. UBS Group AG now owns 10,543 shares of the industrial products company’s stock valued at $136,000 after purchasing an additional 3,110 shares during the last quarter. Renaissance Technologies LLC raised its position in Synalloy by 1.2% in the 4th quarter. Renaissance Technologies LLC now owns 158,600 shares of the industrial products company’s stock valued at $2,048,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Synalloy by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 27,672 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 1,357 shares during the last quarter. Hedge funds and other institutional investors own 40.89% of the company’s stock.
Separately, TheStreet downgraded Synalloy from a “c-” rating to a “d+” rating in a research report on Tuesday, April 21st.
SYNL stock opened at $7.26 on Wednesday. The company has a market cap of $67.93 million, a P/E ratio of -19.62 and a beta of 0.43. Synalloy Co. has a twelve month low of $6.51 and a twelve month high of $17.17. The company has a quick ratio of 1.35, a current ratio of 3.64 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average of $8.82 and a 200-day moving average of $10.67.
Synalloy (NASDAQ:SYNL) last released its earnings results on Tuesday, May 5th. The industrial products company reported ($0.08) earnings per share for the quarter. The firm had revenue of $74.70 million for the quarter. Synalloy had a negative return on equity of 2.51% and a negative net margin of 1.11%.
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.
Featured Story: Street Name
Want to see what other hedge funds are holding SYNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synalloy Co. (NASDAQ:SYNL).
Receive News & Ratings for Synalloy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synalloy and related companies with MarketBeat.com's FREE daily email newsletter.