Here’s Who Just Picked Up Synalloy Corp (NASDAQ:SYNL) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Synalloy Corp (NASDAQ:SYNL)
reported that Privet Fund Lp has picked up 917,997 of common stock as of 2017-04-03.

The acquisition brings the aggregate amount owned by Privet Fund Lp to a total of 917,997 representing a 10.6% stake in the company.

For those not familiar with the company, 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. The Company’s Metals Segment manufactures stainless steel, other alloy pipe, storage solutions and separation equipment. The Company’s Specialty Chemicals segment consists of the Company’s subsidiary, Manufacturers Soap and Chemical Company (MS&C). The Specialty Chemicals Segment manufactures lubricants, surfactants, reaction intermediaries, sulfated fats and oils, and chemical tolling manufacturing resources.

A glance at Synalloy Corp (NASDAQ:SYNL)’s key stats reveals a current market capitalization of 105.07 Million based on 8.68 Million shares outstanding and a price at last close of $12.70 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-03-30, Privet picked up 14,000 at a purchase price of $12.65. This brings their total holding to 31,000 as of the date of the filing.

On the sell side, the most recent transaction saw Hrebenar unload 1,176 shares at a sale price of $17.33. This brings their total holding to 170.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Synalloy Corp (NASDAQ:SYNL) as things move forward to see if its progress aligns with these transactions.

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