Synalloy Co. (SYNL) CEO Craig C. Bram Buys 1,100 Shares

Synalloy Co. (NASDAQ:SYNL) CEO Craig C. Bram purchased 1,100 shares of Synalloy stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $14.95 per share, with a total value of $16,445.00. Following the acquisition, the chief executive officer now directly owns 253,927 shares of the company’s stock, valued at approximately $3,796,208.65. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

SYNL traded down $0.04 on Friday, reaching $14.97. The company’s stock had a trading volume of 27,426 shares, compared to its average volume of 21,830. The company has a market capitalization of $135.80 million, a P/E ratio of 7.39 and a beta of 0.25. Synalloy Co. has a 1 year low of $12.45 and a 1 year high of $24.80. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 2.91.

A number of institutional investors and hedge funds have recently modified their holdings of SYNL. Northern Trust Corp boosted its stake in shares of Synalloy by 320.4% in the second quarter. Northern Trust Corp now owns 88,721 shares of the industrial products company’s stock valued at $1,770,000 after buying an additional 67,617 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Synalloy in the 3rd quarter valued at about $284,000. O Shaughnessy Asset Management LLC bought a new position in Synalloy in the 3rd quarter valued at about $224,000. JPMorgan Chase & Co. raised its holdings in Synalloy by 103.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,678 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 4,415 shares during the period. Finally, BlackRock Inc. raised its holdings in Synalloy by 1.5% in the 3rd quarter. BlackRock Inc. now owns 513,455 shares of the industrial products company’s stock valued at $11,733,000 after acquiring an additional 7,545 shares during the period. 48.57% of the stock is owned by hedge funds and other institutional investors.

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About Synalloy

Synalloy Corporation engages in production and sale of stainless steel pipes, fiberglass, steel storage tanks, and specialty chemicals in the United States and internationally. The company operates in two segments, Metals and Specialty Chemicals. The Metals segment manufactures and sells stainless steel and other alloy pipes under the BRISMET trade name through authorized stocking distributors; and liquid storage solutions and separation equipment, as well as distributes seamless carbon pipes and tubes.

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