Synalloy Co. (NASDAQ:SYNL) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totalling 130,600 shares, a decline of 32.3% from the May 30th total of 193,000 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average trading volume of 39,300 shares, the short-interest ratio is presently 3.3 days.

NASDAQ SYNL opened at $15.88 on Friday. Synalloy 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 1.15, a quick ratio of 1.17 and a current ratio of 3.48. The business’s fifty day moving average is $17.15. The stock has a market cap of $137.97 million, a price-to-earnings ratio of 9.38 and a beta of 0.09.

Synalloy (NASDAQ:SYNL) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $0.07 EPS for the quarter. Synalloy had a return on equity of 14.30% and a net margin of 2.71%. The business had revenue of $84.80 million for the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP increased its position in shares of Synalloy by 9.8% during the 1st quarter. Royce & Associates LP now owns 949,264 shares of the industrial products company’s stock worth $14,429,000 after purchasing an additional 85,039 shares during the last quarter. BlackRock Inc. increased its position in shares of Synalloy by 2.4% during the 4th quarter. BlackRock Inc. now owns 525,915 shares of the industrial products company’s stock worth $8,724,000 after purchasing an additional 12,460 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Synalloy by 2.9% during the 4th 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. Geode Capital Management LLC increased its position in shares of Synalloy by 5.0% during the 4th 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. Finally, Bank of New York Mellon Corp increased its position in shares of Synalloy by 37.5% during the 4th quarter. Bank of New York Mellon Corp now owns 56,480 shares of the industrial products company’s stock worth $937,000 after purchasing an additional 15,399 shares during the last quarter. Institutional investors and hedge funds own 45.29% of the company’s stock.

Synalloy Company Profile

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.

Further Reading: Cost of Debt

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