Synalloy (NASDAQ:SYNL) Stock Price Passes Below 200 Day Moving Average of $15.85

Synalloy Co. (NASDAQ:SYNLGet Rating) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.85 and traded as low as $15.22. Synalloy shares last traded at $15.57, with a volume of 47,000 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Synalloy in a report on Tuesday. They set a “buy” rating for the company.

Synalloy Price Performance

The firm’s fifty day simple moving average is $14.13 and its 200 day simple moving average is $15.85. The firm has a market cap of $159.44 million, a P/E ratio of 4.14 and a beta of 0.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 2.84.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ritholtz Wealth Management lifted its holdings in shares of Synalloy by 13.8% in the 2nd quarter. Ritholtz Wealth Management now owns 13,397 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 1,627 shares during the last quarter. Deltec Asset Management LLC raised its position in Synalloy by 19.4% in the 1st quarter. Deltec Asset Management LLC now owns 15,395 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 2,500 shares during the period. Engineers Gate Manager LP purchased a new stake in Synalloy in the 1st quarter worth about $256,000. Raymond James & Associates purchased a new stake in Synalloy in the 1st quarter worth about $270,000. Finally, Bank of New York Mellon Corp purchased a new stake in Synalloy in the 1st quarter worth about $272,000. Institutional investors own 37.88% of the company’s stock.

Synalloy Company Profile

(Get Rating)

Synalloy Corporation, through its subsidiaries, manufactures and sells metals and specialty chemicals in the United States and internationally. The company's Metals segment manufactures welded pipes and tubes, primarily from stainless steel, duplex, and nickel alloys; and galvanized carbon tubes, as well as related stainless pipe products.

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