U.S. stocks traded higher this morning, following the release of inflation data. Following the market opening Wednesday, the Dow traded up 1.34% to 33,213.05 while the NASDAQ rose 1.98% to 12,740.76. The S&P also rose, gaining, 1.58% to 4,187.68. Also check this: Investor Optimism Down Slightly Ahead Of U.S. Inflation Data Leading and Lagging Sectors Materials shares climbed 2.8% on Wednesday. Meanwhile, top gainers in the sector included Synalloy Corporation (NASDAQ: SYNL ), up 15% and Hudbay Minerals Inc. (NYSE: HBM ) up 8%. In trading on Wednesday, energy shares rose by just 0.1%. Top Headline The annual inflation rate in the US eased to 8.5% in July from more than 40-year high level of 9.1% in June, and compared to market expectations of 8.7%. Compared to the prior month, the CPI came in unchanged during July, after climbing to a 17-year high of 1.3%. Equities Trading UP OraSure Technologies, Inc. (NASDAQ: OSUR ) shares shot up 39% to $4.44 after the company reported upbeat Q2 sales and issued strong sales outlook for the current quarter.
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Synalloy press release (SYNL): Q2 GAAP EPS of $1.06.Revenue of $116.2M (+39.8% Y/Y).Adjusted EBITDA increased 58% to $15.5M compared to $9.8M in the second quarter of 2021.
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What are Value Stocks? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. Below is a list of notable value stocks in the basic materials sector: Synalloy (NASDAQ: Full story available on Benzinga.com
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Synalloy Corporation (NASDAQ:NASDAQ:SYNL) Q1 2022 Earnings Conference Call May 10, 2022 05:00 PM ET Company Participants Cody Cree - Director of Gateway Investor Relations Ben Rosenzweig -…
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The business report issued by Zion Market Research on the Water Storage Systems Market is the finest fabrication of trust and knowledge. The report is an in-depth study of different dynamics and future growth aspects of the market. Our analysts have used multidisciplinary approaches to unfold all the possible avenues. It includes all the leading players in []
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (Synalloy or the Company), an industrials company focused on the production and distribution of piping, tubing and specialty chemicals, has appointed Doug Tackett as chief legal officer. In this role, Tackett will serve as in-house legal advisor to the Companys executive team and board of directors on all legal matters related to the Company. Tackett brings to Synalloy over two decades of legal experience, including privat
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Advance Market Analytics published a new research publication on "Oil storage Market Insights, to 2026" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (Synalloy or the Company), an industrials company focused on the production and distribution of piping, tubing and specialty chemicals, has appointed David Kuzy as executive vice president to lead the Companys chemicals segment, effective today. With this appointment, all of Synalloys chemicals subsidiaries will report directly to Kuzy. Synalloy will benefit from Kuzys 30 years of experience in the chemicals industry as
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (NASDAQ:SYNL) (“Synalloy” or the “Company”) today announced that it has entered into a new, four-year revolving credit facility that provides up to $150 million of borrowing capacity. The new facility matures on January 15, 2025 and replaces and terminates the previous $100 million revolving facility that was scheduled to mature on December 21, 2021 and the $20 million term loan facility scheduled to mature on February 1, 2024. The new facili
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL), today announced its results for the third quarter of 2020. Net sales for the third quarter of 2020 totaled $59.3 million. This represents a decrease of $14.4 million or 19.5% when compared to net sales for the third quarter of 2019. Net sales for the first nine months of 2020 were $200.1 million, a decrease of $37.1 million or 15.6% from net sales for the first nine months of 2019. Excluding the curtailed Palmer operations, sa
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) plans to announce its third quarter 2020 earnings results in a press release that will be issued before the market opens on Monday, November 9, 2020. Following the earnings release, Synalloy will conduct a conference call and webcast at 9:00 AM EDT to discuss the earnings results. Interested parties may listen to this discussion by calling 1 (877) 303-6648; Conference ID code 4682214. The conference call will be webcast live th
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Gainers Sanchez Midstream Partners LP (NYSE: SNMP ) rose 37.4% to $1.14 in pre-market trading after surging over 40% on Tuesday. XpresSpa Group Inc (NASDAQ: XSPA ) rose 31.1% to $2.57 in pre-market trading. XpresSpa, on Monday, announced it has expanded its testing services beyond Covid-19 and will now offer additional rapid testing services for other communicable diseases such as influenza and mono. Scholar Rock Holding Corp (NASDAQ: SRRK ) rose 15.7% to $34.74 in pre-market trading. Scholar Rock reported $150 million public offering of common stock. Scholar Rock shares jumped 118% on Tuesday after the company announced six-month interim analysis results from its TOPAZ Phase 2 clinical trial of SRK-015 in patients with Type 2 and Type 3 spinal muscular atrophy. US Well Services Inc (NASDAQ: USWS ) rose 15% to $0.37 in pre-market trading. First Solar, Inc. (NASDAQ: FSLR ) rose 14.7% to $94.40 in pre-market trading after the company reported Q3 results. The company also issued Q4 EPS and sales guidance.
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (NASDAQ: SYNL) today announced that Craig Bram will retire as President and Chief Executive Officer and as a member of the Synalloy’s Board of Directors, effective as of the filing of the Company third quarter Form 10-Q, currently expected to be on November 9, 2020. Henry Guy, Chairman of the Board of Directors, said, “Craig has been a great asset since joining Synalloy’s Board in 2004 and for the past nine years as President and CEO. He has
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Synalloy Co. (NASDAQ:SYNL)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.42 and traded as low as $3.90. Synalloy shares last traded at $4.01, with a volume of 62,757 shares trading hands. The company has a market capitalization of $36.33 million, a […]
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL), today announced its results for the second quarter of 2020. On June 30, 2020, management and the Board of Directors committed to and approved a plan to pursue a sale and exit of its Palmer Tanks of Texas, Inc. business and is actively marketing the sale of the assets. During the second quarter of 2020, the Company realized operating losses of $1.9 million and non-cash, pre-tax charges totaling $6.1 million for asset impairment
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) plans to announce its second quarter 2020 earnings results in a press release that will be issued before the market opens on Thursday, September 3, 2020. Following the earnings release, Synalloy will conduct a conference call and webcast at 9:00 AM EDT to discuss the earnings results. Interested parties may listen to this discussion by calling 1 (877) 303-6648; Conference ID code 9546188. The conference call will be webcast liv
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Privet Fund Management and UPG Enterprises won three board seats on Synalloy’s eight-member board via a shareholder vote, concluding one of the year’s most contentious proxy fights. The activists, who hold a combined stake of around 25%, had nominated five directors in the hope of gaining majority representation on the board. Q2 2020 hedge fund […] The post Privet And UPG Won Three Seats On Synalloy Board appeared first on ValueWalk .
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today announced preliminary voting results from its 2020 Annual Meeting of Shareholders (the “Annual Meeting”), held Tuesday, June 30, 2020. Based on preliminary results, the Company expects that shareholders have voted to elect five incumbent directors and three directors nominated by two of Synalloy’s shareholders, Privet Fund Management LLC (“Privet”) and UPG Enterprises LLC (“UPG”), to serve on
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RICHMOND, Va.--(BUSINESS WIRE)--The Board of Directors (the “Board”) of Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today issued a letter to shareholders encouraging them to vote on the BLUE proxy card in advance of the 2020 Annual Meeting of Shareholders. In the letter, Synalloy welcomes the recommendations of independent proxy advisory firms Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co. LLC (“Glass Lewis”), both of whom concluded that shareho
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today welcomed independent proxy advisory firm Glass, Lewis & Co. LLC’s (“Glass Lewis”) recommendation that Synalloy’s shareholders vote on Synalloy’s BLUE proxy card to support the election of five incumbent directors and three new directors selected by Privet Fund Management (“Privet”) and UPG Enterprises (“UPG”) (the “Blue Card Compromise”). Glass Lewis joins Institutional Shareholder Servic
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today announced that Institutional Shareholder Services Inc. (“ISS”) has changed its previous recommendation and is advising shareholders to vote on management’s BLUE proxy card for Synalloy’s five experienced director nominees, Craig Bram, Susan Gayner, Henry Guy, Jeff Kaczka and Amy Michtich during the upcoming 2020 Annual Meeting of Shareholders (the “Annual Meeting”). Synalloy welcomes ISS’s re
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy (Nasdaq: SYNL) (“Synalloy” or the “Company”), today issued a letter to shareholders to notify them that the location and format of the upcoming 2020 Annual Meeting of Shareholders (the “Annual Meeting”) has changed. Dear Fellow Shareholders: Due to the public health impact of the COVID-19 pandemic and to support the health and well-being of our employees, shareholders, and the community, and in accordance with state guidance and related orders, Synalloy
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today reiterated that it intends to cumulate votes for just five of its nominees at this year’s Annual Meeting of Shareholders, allowing three of the candidates nominated by Privet Fund Management LLC and UPG Enterprises LLC (“Privet” and “UPG,” and together, the “Dissident Group”) to be elected at the Annual Meeting of Shareholders to fill the remaining seats on Synalloy’s eight-person Board of Di
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today announced that the Board of Directors (the “Board”) has committed to appointing three nominees of Privet Fund Management LLC (“Privet”) and UPG Enterprises LLC (“UPG”) to its Board following the 2020 Annual Meeting of Shareholders, regardless of the outcome of the shareholder vote. The Board believes that shareholders should have proportional representation and welcomes nominees of Privet and
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today commented on a June 16, 2020 report from Institutional Shareholder Services (“ISS”) concerning the upcoming 2020 Annual Meeting of Shareholders. Synalloy welcomes ISS’s acknowledgement of the Company’s outperformance and the benefits of maintaining a majority of the incumbent directors. ISS clearly believes that Privet Fund Management LLC and UPG Enterprises LLC (“Privet” and “UPG,” and toget
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today issued a letter to shareholders highlighting three key reasons why the Company’s shareholders should back the incumbent directors at the 2020 Annual Meeting of Shareholders: The Company has performed well, through the business cycle, and has leading market share, operational performance and shareholder returns that exceed the median of its peers. Privet Fund Management LLC and UPG Enterprises
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ATLANTA--(BUSINESS WIRE)--Privet Fund Management LLC (together with its affiliates, "Privet") and UPG Enterprises LLC (together with its affiliates, “UPG” and collectively with Privet, “we” or “us”), which collectively own approximately 24.9% of the outstanding common stock of Synalloy Corporation (NASDAQ: SYNL) (“Synalloy” or the "Company"), today sent a letter to stockholders in connection with their nomination of five highly-qualified candidates for election to the Company’s eight-member Boa
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today expressed its concern about false and materially misleading statements made by Privet Fund Management LLC and UPG Enterprises LLC (“Privet” and “UPG,” and together, the “Dissident Group”) regarding their nominee Christopher Hutter’s professional career. The Dissident Group has said that if Synalloy shareholders elect the Dissident Group’s nominees, Mr. Hutter would serve as Synalloy’s interim
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today announced that it has filed a detailed investor presentation titled “Building Long-Term Value for Shareholders,” highlighting Synalloy’s plan to create value for shareholders, excellent, long-term performance in its sectors, and cautioning shareholders about Privet/UPG’s efforts to gain control of Synalloy’s Board and business, without paying a control premium, based on a series of “Business
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today issued a letter to shareholders unpacking the poorly-sourced hypotheticals outlined by Privet Fund Management LLC and UPG Enterprises LLC (“Privet” and “UPG,” and together, the “Dissident Group”) in their recently distributed plan for the business, and highlighting the many areas where Synalloy is already executing the dissidents’ “fresh” ideas as the Board of Directors (the “Board”) and mana
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ATLANTA--(BUSINESS WIRE)--Privet Fund Management LLC (together with its affiliates, "Privet") and UPG Enterprises LLC (together with its affiliates, “UPG” and collectively with Privet, “we” or “us”), which collectively own approximately 24.9% of the outstanding common stock of Synalloy Corporation (NASDAQ: SYNL) (“Synalloy” or the "Company"), today sent a letter to stockholders in connection with their nomination of five highly-qualified candidates for election to the Company’s eight-member Boa
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL), today announced net sales for the first quarter of 2020 of $74.7 million. This represents a decrease of $10.1 million or 11.9% when compared to net sales for the first quarter of 2019. “The first quarter of this year was a continuation of the soft manufacturing economy that we witnessed in the second half of last year,” said Craig C. Bram, President and CEO. “In spite of the difficult pricing environment, Adjusted EBITDA in th
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today issued a letter to shareholders examining the lack of qualifications of the nominees that Privet Fund Management LLC (“Privet”) and UPG Enterprises LLC (“UPG”) included on their dissident slate, and clarifying that Synalloy’s management team and incumbent nominees outmatch the dissident slate in qualifications, possessing extensive experience and expertise in all relevant skillsets. The lette
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ATLANTA--(BUSINESS WIRE)--Privet Fund Management LLC (together with its affiliates, "Privet") and UPG Enterprises LLC (together with its affiliates, “UPG” and collectively with Privet, “we” or “us”), which collectively own approximately 24.9% of the outstanding common stock of Synalloy Corporation (NASDAQ: SYNL) (“Synalloy” or the "Company"), today issued the following open letter to Synalloy’s customers, employees and stockholders in connection with their nomination of five highly-qualified ca
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RICHMOND, Va.--(BUSINESS WIRE)--The Board of Directors (the “Board”) of Synalloy Corporation (Nasdaq: SYNL) (“Synalloy” or the “Company”) today filed its definitive proxy statement and issued a letter to shareholders. The letter to shareholders highlights the Company’s recent operational achievements and extensive constructive efforts to engage with Privet Fund Management LLC (“Privet”) and UPG Enterprises LLC (“UPG”), which are seeking to take over the Board and business of Synalloy without pa
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ATLANTA--(BUSINESS WIRE)--Privet Fund Management LLC (together with its affiliates, "Privet") and UPG Enterprises LLC (“UPG”), which collectively own approximately 24.9% of the outstanding common stock of Synalloy Corporation (NASDAQ: SYNL) (“Synalloy” or the "Company"), have filed a definitive proxy statement with the Securities and Exchange Commission and today issued the below letter to the Company’s stockholders. Privet and UPG have nominated a slate of five highly-qualified and experienced
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RICHMOND, Va.--(BUSINESS WIRE)--The Board of Directors (“the Board”) of Synalloy Corporation (NASDAQ: SYNL) (“Synalloy” or the “Company”) today reminded shareholders to take no action in response to Privet Fund Management LLC (“Privet”) and UPG Enterprises, LLC (“UPG”), and to discard any proxy material that Privet and UPG may provide for the 2020 Annual Meeting of Shareholders (the “Annual Meeting”). Shareholders should NOT sign, return or vote any white proxy card sent to you by Privet, UPG a
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RICHMOND, Va.--(BUSINESS WIRE)--The Board of Directors (the “Board”) of Synalloy Corporation (Nasdaq: SYNL) (the “Company”) today announced its commitment to engage a leading independent financial advisor to conduct a comprehensive review of strategic alternatives once there is stabilization from the current market volatility and macroeconomic disruption related to the global health pandemic caused by COVID-19. The Board believes that ensuring a stable business and management continuity during
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL) announced today that first quarter shipments for the Metals Segment (excluding Palmer of Texas) were up 3.6% on a pounds basis over last year. Bookings and backlogs were up from 2019 levels by approximately 30% on a pounds basis and 19% on a dollars basis. Specialty Chemical Segment shipments were down 7% on a pounds basis, but total revenues were up approximately 2.6% on a dollars basis, resulting from a favorable product mix
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (“Synalloy” or the “Company”) announced today that its Board of Directors unanimously authorized the adoption of a limited duration shareholder rights plan. The rights will be issued to shareholders of record on April 10, 2020 and will expire on March 31, 2021, or later if the Board of Directors approves an extension prior to expiration and the extension is submitted to the shareholders for ratification at the Company’s next annual meeting. A
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (NASDAQ: SYNL) (“Synalloy” or the “Company”) announced today that it received notice that Privet Fund Management LLC (“Privet”) and UPG Enterprises, LLC (“UPG”) intend to nominate a slate of five director designees for election to the Company’s Board of Directors (the “Board”) to replace a majority of the Board at the 2020 annual meeting of shareholders (the “2020 Annual Meeting”). The Board will review Privet’s and UPG’s nomination notice, i
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RICHMOND, Va.--(BUSINESS WIRE)--Synalloy Corporation (Nasdaq: SYNL), today announced net sales for the fourth quarter of 2019 of $67.9 million. This represents a decrease of $4.7 million or 6.5% when compared to net sales for the fourth quarter of 2018. Excluding net sales of ASTI, net sales for the fourth quarter of 2019 decreased $12.7 million, or 17.4% compared to net sales for the fourth quarter of 2018. Net sales for the full year 2019 were $305.2 million, an increase of $24.3 million or 8
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