Vanguard Group Inc. grew its holdings in Synalloy Corporation (NASDAQ:SYNL) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 299,609 shares of the industrial products company’s stock after buying an additional 6,648 shares during the quarter. Vanguard Group Inc. owned approximately 3.45% of Synalloy worth $3,400,000 at the end of the most recent quarter.
Separately, Royce & Associates LP lifted its holdings in Synalloy by 1.3% in the 2nd quarter. Royce & Associates LP now owns 640,452 shares of the industrial products company’s stock worth $7,269,000 after buying an additional 8,119 shares during the period. 48.20% of the stock is owned by institutional investors and hedge funds.
In other news, insider Privet Fund Management Llc bought 22,036 shares of the firm’s stock in a transaction dated Monday, September 25th. The stock was purchased at an average price of $11.80 per share, with a total value of $260,024.80. Following the transaction, the insider now owns 49,086 shares of the company’s stock, valued at $579,214.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.60% of the stock is currently owned by corporate insiders.
Synalloy (NASDAQ:SYNL) last released its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.10 earnings per share for the quarter. Synalloy had a positive return on equity of 1.85% and a negative net margin of 0.59%. The business had revenue of $54.60 million during the quarter.
The company also recently announced an annual dividend, which was paid on Monday, November 6th. Stockholders of record on Wednesday, October 25th were given a $0.13 dividend. This represents a dividend yield of 0.94%. The ex-dividend date was Tuesday, October 24th. Synalloy’s dividend payout ratio is currently -100.00%.
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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