Major industries in any country require heavy-duty raw materials such as metals and chemicals. These are essential raw materials without which no industries can function. They are required in every industry, in small or large quantities depending on their activities. The equipment used in many industries is primarily made out of metal, while some industries may engage in manufacturing goods out of metal. Most companies require chemicals in the production of their product lines. Things like pipes, tubes, storage tanks, etc are all made out of metals, while lubricants, surfactants, paints, etc use chemicals in the manufacturing process. In short, metals and chemicals are the lifeblood of manufacturing.
Investing in companies that provide metals and chemicals to various industries can prove to be beneficial for you. The demand for such companies’ products persists no matter what, thereby turning out to be in business all year round. This gives them enough growth potential to expand in various product lines and markets. When such companies do well, they can generate great returns in the long run. For any kind of investment, one has to be patient in order to see positive returns.
Synalloy Corporation is a company that manufactures and sells metals and specialty chemicals, primarily in the US but also worldwide. The company operates in two segments- metals and specialty chemicals. The metals segment of the company offers stainless steel, galvanized and alloy pipes and tubes under the BRISMET trade name, through authorized stocking distributors. They also provide separation equipment and liquid storage solutions, ornamental stainless steel tubing and carbon pipes and tubes.
This segment of Synalloy caters to the oil and gas, chemical, petrochemical, pulp and paper, mining, power generation, water, and wastewater treatment, liquid natural gas, brewery, food processing, petroleum, automotive and other heavy-duty industries. The Specialty Chemicals segment of the company produces lubricants, surfactants, defoamers, sulfated fats, and oils, etc, and cater to carpet, chemical, paper, metals, mining, agriculture, paint, textile, cosmetics, and other similar industries. Synalloy was formerly known as Blackman Uhler Industries Inc. It changed to its current name in 1967. Synalloy was founded in 1945 and is headquartered in Richmond, Virginia.
Synalloy Corporation’s stock is listed on the Nasdaq exchange and is denoted by the symbol ‘SYNL’. The company has a market cap worth $64.86 million. The NASDAQ: SYNL at https://www.webull.com/quote/nasdaq-synl is currently traded for $7.16. Before covid-19 attained pandemic status, the stock was traded for $11.09. The company (NASDAQ: SYNL) has also reported a negative EPS of $0.08 and earned $74.70 million in the first quarter of 2020. Its competitors are dynaCERT, Park-Ohio, Unifi, Porvair, Goodwin, Compagnie de Saint Gobain, etc. You can buy stock share from brokerage account.
Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.