Synalloy (SYNL) Reaches $20.00 52-Week High; Westlake Chemical Has 1.02 Sentiment

June 14, 2018 - By Louis Casey

Westlake Chemical Corporation (NYSE:WLK) Logo

The stock of Synalloy Corporation (NASDAQ:SYNL) hit a new 52-week high and has $21.60 target or 8.00% above today’s $20.00 share price. The 6 months bullish chart indicates low risk for the $175.15 million company. The 1-year high was reported on Jun, 14 by Barchart.com. If the $21.60 price target is reached, the company will be worth $14.01 million more. The stock increased 0.25% or $0.05 during the last trading session, reaching $20. About 20,985 shares traded or 25.26% up from the average. Synalloy Corporation (NASDAQ:SYNL) has risen 52.50% since June 14, 2017 and is uptrending. It has outperformed by 39.93% the S&P500. Some Historical SYNL News: ; 12/03/2018 – SYNALLOY SAYS ON MARCH 12, BUT EFFECTIVE JAN 6, UNIT ENTERED COLLECTIVE BARGAINING AGREEMENT – SEC FILING; 13/03/2018 – SYNALLOY CORP – SEES AN APPROXIMATE 60% INCREASE IN ADJUSTED EBITDA FOR 2018; 03/05/2018 – SYNALLOY – FOR SPECIALTY CHEMICALS SEGMENT, NEW PRODUCT ADDITIONS SHOULD DRIVE MEANINGFUL ORGANIC GROWTH IN CURRENT AND SUBSEQUENT YEARS; 03/05/2018 – SYNALLOY CORP – ANTICIPATE TOTAL SHIPMENTS GREATER THAN 65 MLN POUNDS IN 2018 AT BRISTOL METALS UNIT; 12/03/2018 – SYNALLOY – CBA, WHICH CARRIES A FIVE-YEAR TERM, INCLUDES A WAGE INCREASE AND PROFIT SHARING FOR UNION’S MEMBERS; 10/04/2018 – Synalloy Raises 2018 View To Sales $240M-$245M; 23/04/2018 – DJ Synalloy Corporation, Inst Holders, 1Q 2018 (SYNL); 10/04/2018 – SYNALLOY CORP – SEES 2018 NET INCOME OF BETWEEN $13.6 AND $15.2 MLN; 03/05/2018 – Synalloy 1Q EPS 44c; 13/03/2018 – Synalloy 4Q Cont Ops EPS 11c

Westlake Chemical Corp (WLK) investors sentiment decreased to 1.02 in 2018 Q1. It’s down -0.31, from 1.33 in 2017Q4. The ratio has dropped, as 131 hedge funds started new or increased stock positions, while 129 sold and reduced their positions in Westlake Chemical Corp. The hedge funds in our database now possess: 36.22 million shares, down from 36.26 million shares in 2017Q4. Also, the number of hedge funds holding Westlake Chemical Corp in top ten stock positions decreased from 5 to 4 for a decrease of 1. Sold All: 28 Reduced: 101 Increased: 62 New Position: 69.

Since January 1, 0001, it had 0 buys, and 17 selling transactions for $20.20 million activity.

Another recent and important Westlake Chemical Corporation (NYSE:WLK) news was published by Globenewswire.com which published an article titled: “New Research: Key Drivers of Growth for Global Payments, Patterson-UTI Energy, Celanese, Westlake Chemical, Las …” on June 12, 2018.

Robotti Robert holds 8.15% of its portfolio in Westlake Chemical Corporation for 265,152 shares. Tricadia Capital Management Llc owns 75,000 shares or 4.11% of their US portfolio. Moreover, Marvin & Palmer Associates Inc has 3.63% invested in the company for 32,890 shares. The Massachusetts-based Contravisory Investment Management Inc. has invested 2.38% in the stock. Capital Growth Management Lp, a Massachusetts-based fund reported 360,000 shares.

Analysts await Westlake Chemical Corporation (NYSE:WLK) to report earnings on August, 2. They expect $2.47 earnings per share, up 104.13% or $1.26 from last year’s $1.21 per share. WLK’s profit will be $320.09M for 11.38 P/E if the $2.47 EPS becomes a reality. After $2.24 actual earnings per share reported by Westlake Chemical Corporation for the previous quarter, Wall Street now forecasts 10.27% EPS growth.

It closed at $112.43 lastly. It is down 89.73% since June 14, 2017 and is uptrending. It has outperformed by 77.16% the S&P500. Some Historical WLK News: ; 18/04/2018 – MOODY’S REVISES OUTLOOK FOR WESTLAKE TO POSITIVE; AFFIRMS Baa3; 08/05/2018 – Westlake Announces Agreement with Ally’s SmartAuction; 07/05/2018 – S&PGR Raises 8, Affirms 2 Westlake Auto Receivables Trust Rtgs; 10/05/2018 – WESTLAKE CHEMICAL CORP WLK.N : COWEN AND COMPANY RAISES TARGET PRICE TO $124 FROM $122; 22/03/2018 – Royal® Building Products Features New Trim and Mouldings products, Celect® Cellular Composite Siding and ZuriTM Premium; 03/05/2018 – WESTLAKE CEO ALBERT CHAO SPEAKS ON 1Q EARNINGS CALL; 03/05/2018 – Westlake Chemical 1Q EPS $2.20; 23/05/2018 – Westlake Presenting at Conference Jun 12; 06/03/2018 Westlake Launches New Prime Program with 2.99% APRs; 03/05/2018 – S&PGR Asgns Westlake Auto Rcvbls Trust 2018-2 Nts Prelim Rtgs

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and building products. The company has market cap of $14.57 billion. It operates through two divisions, Olefins and Vinyls. It has a 11.24 P/E ratio. The Olefins segment offers ethylene, polyethylene, styrene monomer, and various ethylene co-products, as well as sells propylene, crude butadiene, pyrolysis gasoline, and hydrogen.

More important recent Synalloy Corporation (NASDAQ:SYNL) news were published by: Nasdaq.com which released: “Synalloy to be Added to the Small-cap Russell 2000 Index” on June 11, 2018, also Nasdaq.com published article titled: “Synalloy Executes Agreement to Purchase and Leaseback Munhall Property for $10.0 Million and Announces Planned …”, Investorplace.com published: “10 Little-Known Stocks That Could Be Huge” on May 18, 2018. More interesting news about Synalloy Corporation (NASDAQ:SYNL) was released by: Bizjournals.com and their article: “Marcegaglia galvanized tube business, property in Munhall bought for $20M” with publication date: May 29, 2018.

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 has market cap of $175.15 million. The firm operates in two divisions, Metals and Specialty Chemicals. It has a 133.33 P/E ratio. The Metals segment makes 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.

Synalloy Corporation (NASDAQ:SYNL) Institutional Positions Chart

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