California Public Employees Retirement System Buys 2,600 Shares of Synalloy Co. (NASDAQ:SYNL)

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California Public Employees Retirement System lifted its stake in shares of Synalloy Co. (NASDAQ:SYNL) by 5.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,457 shares of the industrial products company’s stock after purchasing an additional 2,600 shares during the period. California Public Employees Retirement System’s holdings in Synalloy were worth $757,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SYNL. Vanguard Group Inc. raised its stake in Synalloy by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 423,310 shares of the industrial products company’s stock valued at $6,612,000 after acquiring an additional 9,707 shares during the period. Northern Trust Corp raised its stake in Synalloy by 3.1% in the 2nd quarter. Northern Trust Corp now owns 93,741 shares of the industrial products company’s stock valued at $1,465,000 after acquiring an additional 2,779 shares during the period. PenderFund Capital Management Ltd. raised its stake in Synalloy by 1,017.6% in the 3rd quarter. PenderFund Capital Management Ltd. now owns 165,005 shares of the industrial products company’s stock valued at $2,434,000 after acquiring an additional 150,241 shares during the period. BlackRock Inc. raised its stake in Synalloy by 8.2% in the 2nd quarter. BlackRock Inc. now owns 550,819 shares of the industrial products company’s stock valued at $8,604,000 after acquiring an additional 41,856 shares during the period. Finally, Rhumbline Advisers raised its stake in Synalloy by 10.3% in the 3rd quarter. Rhumbline Advisers now owns 12,589 shares of the industrial products company’s stock valued at $201,000 after acquiring an additional 1,176 shares during the period. Institutional investors own 47.08% of the company’s stock.

SYNL opened at $12.20 on Tuesday. Synalloy Co. has a 1-year low of $11.72 and a 1-year high of $19.65. The stock’s fifty day simple moving average is $14.37 and its 200 day simple moving average is $15.95. The company has a current ratio of 3.49, a quick ratio of 1.18 and a debt-to-equity ratio of 1.06. The stock has a market cap of $109.74 million and a PE ratio of 76.12.

In other Synalloy news, CEO Craig C. Bram purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average price of $12.70 per share, for a total transaction of $25,400.00. Following the purchase, the chief executive officer now owns 260,122 shares in the company, valued at $3,303,549.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig C. Bram purchased 2,195 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average price of $13.15 per share, for a total transaction of $28,864.25. Following the purchase, the chief executive officer now owns 256,122 shares in the company, valued at approximately $3,368,004.30. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 7,395 shares of company stock worth $95,162. 8.23% of the stock is owned by company insiders.

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.

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Institutional Ownership by Quarter for Synalloy (NASDAQ:SYNL)

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