Ascent Industries (ACNT) 10-K 18 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Mar. 11, 2019	Jun. 30, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Synalloy Corporation
Entity Central Index Key	0000095953
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 165.7
Entity Common Stock, Shares Outstanding		8,964,874
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Smaller Reporting Company	true
Emerging Growth Company	false
Shell Company	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 2,220,272	$ 14,706
Accounts receivable, less allowance for doubtful accounts of $169,107 and $35,000, respectively	41,065,251	28,704,481
Inventories, net
Raw materials	59,778,767	37,748,316
Work-in-process	21,033,532	9,491,408
Finished goods	33,389,087	24,885,457
Total inventories, net	114,201,386	72,125,181
Prepaid expenses and other current assets	9,983,416	6,802,072
Total current assets	167,470,325	107,646,440
Property, plant and equipment, net	40,924,455	35,080,009
Goodwill	9,799,992	6,003,525
Intangible assets, net	9,696,112	10,880,521
Deferred charges, net and other non-current assets	507,962	263,655
Total assets	228,398,846	159,874,150
Current liabilities
Accounts payable	25,073,698	24,256,812
Accrued expenses	12,163,686	8,993,454
Total current liabilities	37,237,384	33,250,266
Long-term debt	76,405,458	25,913,557
Long-term portion of earn-out liability	4,702,562	3,170,099
Long-term deferred sale-leaseback gain	5,599,077	5,933,350
Deferred income taxes	252,988	635,910
Other long-term liabilities	1,717,291	1,270,542
Shareholders' equity
Common stock, par value $1 per share - authorized 24,000,000 shares; issued 10,300,000 shares	10,300,000	10,300,000
Capital in excess of par value	36,520,840	35,193,152
Retained earnings	68,965,410	58,129,382
Accumulated other comprehensive loss	0	(10,864)
Shareholders' equity before treasury stock	115,786,250	103,611,670
Less cost of common stock in treasury - 1,424,279 and 1,566,769 shares, respectively	13,302,164	13,911,244
Total shareholders' equity	102,484,086	89,700,426
Commitments and contingencies – see Note 13
Total liabilities and shareholders' equity	$ 228,398,846	$ 159,874,150

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current assets
Accounts receivable, allowance for doubtful accounts	$ 169,107	$ 35,000
Liabilities and Shareholders' Equity
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	24,000,000	24,000,000
Common stock, shares issued (in shares)	10,300,000	10,300,000
Common stock in treasury, at cost (in shares)	1,424,279	1,566,769

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales	$ 280,841,419	$ 201,147,682	$ 138,565,782
Cost of sales	229,604,080	173,066,732	121,661,303
Gross profit	51,237,339	28,080,950	16,904,479
Selling, general and administrative expense	27,691,874	24,874,589	22,672,872
Acquisition related costs	1,211,797	794,983	106,227
Earn-out adjustments	1,430,682	688,523	0
(Gain) loss on sale-leaseback	(334,273)	(334,273)	2,371,778
Operating income (loss)	21,237,259	2,057,128	(8,246,398)
Other (income) and expense
Interest expense	2,210,506	985,366	932,572
Change in fair value of interest rate swap	(19,484)	(96,696)	12,997
Other, net	2,572,598	(310,043)	0
Income (loss) before income taxes	16,473,639	1,478,501	(9,191,967)
Provision for (benefit from) income taxes	3,376,210	137,139	(2,198,000)
Net income (loss) from continuing operations	13,097,429	1,341,362	(6,993,967)
Net loss from discontinued operations, net of tax	0	0	(99,334)
Net income (loss)	13,097,429	1,341,362	(7,093,301)
Other comprehensive loss, net of tax:
Unrealized gains on available for sale securities, net of tax of $186,384	0	355,482	0
Reclassification adjustment for gains included in net	0	(366,346)	0
Comprehensive income (loss)	$ 13,097,429	$ 1,330,498	$ (7,093,301)
Net income (loss) per common share from continuing operations:
Basic (dollars per share)	$ 1.49	$ 0.15	$ (0.81)
Diluted (dollars per share)	1.48	0.15	(0.81)
Net loss per diluted common share from discontinued operations:
Basic (dollars per share)	0	0	(0.01)
Diluted (dollars per share)	$ 0	$ 0	$ (0.01)

Consolidated Statements of Op_2

Consolidated Statements of Operations and Comprehensive Income - Parenthetical - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Unrealized gains on available for sale securities, tax	$ 0	$ 186,384	$ 0
Reclassification adjustment for gains include in net income, tax	$ 0	$ 189,633	$ 0

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Cost of Common Stock in Treasury
Balance balance at Dec. 31, 2015	$ 95,154,294	$ 10,300,000	$ 34,476,240	$ 65,029,474	$ 0	$ (14,651,420)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(7,093,301)			(7,093,301)
Dividend on stock grant forfeiture	360			360
Issuance of shares of common stock from the treasury	325,618		(221,507)			547,125
Employee stock option and grant compensation	459,473		459,473
Purchase of common stock	(253,889)					(253,889)
Ending balance at Dec. 31, 2016	88,592,555	10,300,000	34,714,206	57,936,533	0	(14,358,184)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	1,341,362			1,341,362
Payment of dividends	(1,148,513)			(1,148,513)
Other comprehensive loss	(10,864)				(10,864)
Issuance of shares of common stock from the treasury	287,470		(227,939)			515,409
Stock options exercised, net	0		68,469			(68,469)
Employee stock option and grant compensation	638,416		638,416
Ending balance at Dec. 31, 2017	89,700,426	10,300,000	35,193,152	58,129,382	(10,864)	(13,911,244)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	13,097,429			13,097,429
Payment of dividends	(2,250,537)			(2,250,537)
Issuance of shares of common stock from the treasury	276,000		(316,705)			592,705
Stock options exercised, net	(148,751)		246,757			(395,508)
Employee stock option and grant compensation	826,998		826,998
Shares issued in connection with at-the-market offering	982,521		570,638			411,883
Ending balance at Dec. 31, 2018	$ 102,484,086	$ 10,300,000	$ 36,520,840	$ 68,965,410	$ 0	$ (13,302,164)

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Payment of dividends (dollars per share)	$ 0.25	$ 0.13
Issuance of shares of common stock from the treasury (shares)	66,632	58,532	62,124
Stock options exercised, net (shares)	31,488	5,389	666
Purchase of shares of common stock (shares)			29,500
Number of shares issued in transaction (shares)	44,378

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating activities
Net income (loss)	$ 13,097,429	$ 1,341,362	$ (7,093,301)
Income from discontinued operations, net of tax	0	0	99,334
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation expense	6,411,900	5,294,695	4,235,203
Amortization expense	2,363,277	2,443,117	2,459,787
Amortization of debt issuance costs	132,030	60,529	72,290
Unrealized loss on equity securities	2,572,703	0	0
Deferred income taxes	(382,922)	(1,037,183)	(1,407,462)
Gain on sale of available for sale securities	0	(310,043)	0
Earn-out adjustments	1,430,682	688,523	0
Payments of MUSA-Stainless earn-out liability in excess of acquisition date fair value	(194,462)	0	0
Provision for (reduction of) losses on accounts receivable	239,851	201,641	(45,151)
Provision for losses on inventories	1,827,574	1,196,428	983,505
(Gain) loss on sale of property, plant and equipment	(17,762)	25,730	2,294,917
Amortization of deferred gain on sale-leaseback	(334,273)	(334,273)	(83,569)
Straight line lease cost	445,230	397,071	101,633
Change in cash value of life insurance	0	0	1,502
Change in fair value of interest rate swap	(19,484)	(96,696)	12,997
Issuance of treasury stock for director fees	276,000	287,500	330,000
Employee stock option and grant compensation	826,998	638,416	459,473
Dividend on stock grant forfeiture	0	0	360
Changes in operating assets and liabilities:
Accounts receivable	(10,413,480)	(10,877,176)	(37,676)
Inventories	(41,157,779)	(7,088,100)	2,032,621
Other assets and liabilities	(1,523,569)	11,229,799	(11,767,808)
Accounts payable	(234,353)	7,572,308	4,418,578
Accrued expenses	2,093,353	(9,424,395)	9,582,445
Accrued income taxes	1,339,561	26,197	(1,294,557)
Net cash (used in) provided by continuing operating activities	(21,221,496)	2,235,450	5,355,121
Net cash used in discontinued operating activities	0	0	(3,843,137)
Net cash (used in) provided by operating activities	(21,221,496)	2,235,450	1,511,984
Investing activities
Purchases of property, plant and equipment	(7,354,737)	(5,278,608)	(3,044,411)
Proceeds from sale of property, plant and equipment	0	72,789	22,215,362
Purchases of equity securities	(4,970,470)	(4,382,865)	0
Proceeds from available for sale securities	0	4,141,564	0
Acquisition of the stainless pipe and tube assets of Marcegaglia USA, Inc. (MUSA)	0	(11,953,513)	(3,000,000)
Acquisition of the galvanized pipe and tube assets of MUSA	(10,378,282)	0	0
Proceeds from life insurance policies	0	0	1,502,283
Net cash (used in) provided by investing activities	(22,703,489)	(17,400,633)	17,673,234
Financing activities
Net borrowings from line of credit	50,491,901	17,109,351	6,928,640
Net proceeds from at-the-market offering	982,519	0	0
Payments on long-term debt	0	0	(26,068,228)
Payments on capital lease obligation	(336,711)	(124,999)	(65,966)
Payments on earn-out liabilities to MUSA sellers	(2,260,984)	(518,456)	0
Payments of debt issuance costs	(382,206)	(200,367)	(54,326)
Proceeds from exercised stock options	141,853	0	0
Dividends paid	(2,215,215)	(1,148,513)	0
Tax withholdings related to net share settlements of exercised stock options	(290,606)	0	0
Purchase of common stock	0	0	(253,889)
Net cash provided by (used in) financing activities	46,130,551	15,117,016	(19,513,769)
Increase (decrease) in cash and cash equivalents	2,205,566	(48,167)	(328,551)
Cash and cash equivalents at beginning of year	14,706	62,873	391,424
Cash and cash equivalents at end of year	$ 2,220,272	$ 14,706	$ 62,873

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Description of Business Synalloy Corporation (the "Company") was incorporated in Delaware in 1958 as the successor to a chemical manufacturing business founded in 1945. Its charter is perpetual. The name was changed on July 31, 1967 from Blackman Uhler Industries, Inc. The Company's executive office is located at 4510 Cox Road, Suite 201, Richmond, Virginia 23060. The Company's business is divided into two reportable operating segments, the Metals Segment and the Specialty Chemicals Segment. As of December 31, 2018, the Metals Segment operated as three reportable units including BRISMET, Palmer, and Specialty. As of January 1, 2019, the Metals Segment also includes ASTI; see Note 23 to the consolidated financial statements. Two other operations, Bristol Fab (a division of BRISMET) and Ram-Fab, LLC, were sold or closed during 2014; see Note 19. BRISMET manufactures stainless steel and special alloy pipe and tube, Palmer manufactures liquid storage solutions and separation equipment and Specialty is a master distributor of seamless carbon pipe and tube. The Specialty Chemicals Segment operates as one reportable unit and is comprised of MC and CRI Tolling, and produces specialty chemicals. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. The Metals Segment is comprised of three subsidiaries: Synalloy Metals, Inc. which owns 100 percent of BRISMET, located in Bristol, Tennessee and Munhall, Pennsylvania; Palmer, located in Andrews, Texas and Specialty, located in Mineral Ridge, Ohio and Houston, Texas. The Specialty Chemicals Segment consists of two subsidiaries: MS&C which owns 100 percent of MC, located in Cleveland, Tennessee and CRI Tolling, located in Fountain Inn, South Carolina. All significant intercompany transactions have been eliminated. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Accounts Receivable Accounts receivable from the sale of products are recorded at net realizable value and the Company generally grants credit to customers on an unsecured basis. Substantially all of the Company's accounts receivable are due from companies located throughout the United States. The Company provides an allowance for doubtful accounts for projected uncollectable amounts. The allowance is based upon a review of outstanding receivables, historical collection information and existing economic conditions. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. Receivables are generally due within 30 to 60 days. Delinquent receivables are written off based on individual credit evaluations and specific circumstances of the customer. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by either specific identification or weighted average methods. Inventory cost is adjusted when its recorded cost is below net realizable value. At the end of each quarter, all facilities review recent sales reports to identify sales price trends that would indicate products or product lines that are being sold below cost. This would indicate that an adjustment would be required. In addition, the Company establishes inventory reserves for: • Estimated obsolete or unmarketable inventory. The Company identified inventory items with no sales activity for finished goods or no usage for raw materials for a certain period of time. For those inventory items not currently being marketed and unable to be sold, a reserve was established for 100 percent of the inventory cost less any estimated scrap proceeds. The Company reserved $316,903 and $411,157 at December 31, 2018 and December 31, 2017 , respectively. • Estimated quantity losses. The Company performs an annual physical count of inventory during the fourth quarter each year. For those facilities that complete their physical inventory counts before the end of December, a reserve is established for the potential quantity losses that could occur subsequent to their physical inventory. This reserve is based upon the most recent physical inventory results. At December 31, 2018 and December 31, 2017 , the Company had $359,505 and $285,627 , respectively, reserved for physical inventory quantity losses. Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is provided on the straight-line method over the estimated useful life of the assets. Leasehold improvements are depreciated over the shorter of their useful lives or the remaining non-cancellable lease term, buildings are depreciated over a range of ten years to 40 years , and machinery, fixtures and equipment are depreciated over a range of three years to 20 years . The costs of software licenses are amortized over five years using the straight-line method. The Company continually reviews the recoverability of the carrying value of long-lived assets. The Company also reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of such assets may not be recoverable. When the future undiscounted cash flows of the operation to which the assets relate do not exceed the carrying value of the asset, the assets are written down to fair value. Business Combinations Acquisitions are accounted for using the acquisition method of accounting for business combinations. Under this method, the total consideration transferred to consummate the acquisition is allocated to the identifiable tangible and intangible assets acquired and liabilities assumed based on their respective fair values as of the closing date of the acquisition. The acquisition method of accounting requires extensive use of estimates and judgments to allocate the consideration transferred to the identifiable tangible and intangible assets acquired, if any, and liabilities assumed. Goodwill, Intangible Assets and Deferred Charges Goodwill, arising from the excess of purchase price over fair value of net assets of businesses acquired, is not amortized but is reviewed annually, at the reporting unit level, in the fourth quarter for impairment and whenever events or circumstances indicate that the carrying value may not be recoverable. No goodwill impairment was identified as a result of the testing procedures performed for the years ended December 31, 2018 and December 31, 2017 . Intangible assets represent the fair value of intellectual, non-physical assets resulting from business acquisitions. Deferred charges represent other intangible assets and debt issuance costs. Intangible assets are amortized over their estimated useful lives using either an accelerated or straight-line method. Deferred charges are amortized over their estimated useful lives using the straight-line method. Deferred charges are amortized over a period ranging from three to ten years and intangible assets are amortized over a period ranging from eight to 15 years. The weighted average amortization period for the customer relationships is approximately eleven years. Deferred charges and intangible assets totaled $23,247,498 and $21,837,351 at December 31, 2018 and December 31, 2017 , respectively. Accumulated amortization of deferred charges and intangible assets as of December 31, 2018 and December 31, 2017 totaled $13,043,424 and $10,693,175 , respectively. Estimated amortization expense for the next five fiscal years based on existing intangible assets, excluding deferred charges is as follows: 2019 2,297,570 2020 2,129,528 2021 2,021,486 2022 1,790,631 2023 328,416 Thereafter 1,128,754 The Company recorded amortization expense of $2,363,277 , $2,443,117 and $2,459,787 for 2018 , 2017 and 2016 , respectively, which excludes amortization expense of debt issuance costs, which is reflected in the consolidated financial statements as interest expense. Earn-Out Liability In connection with the MUSA-Stainless acquisition on February 28, 2017, the Company is required to make contingent earn-out payments to the prior owners based on actual sales levels of stainless steel pipe and tube (outside diameter of ten inches or less). The Company determined the fair value of the earn-out liability on the acquisition date using a Monte Carlo simulation model. Changes to the fair value of the earn-out liability are determined each quarter-end and charged to income or expense in the “Earn-Out Adjustments” line item in the Consolidated Statements of Operations and Comprehensive Income. In connection with the MUSA-Galvanized acquisition on July 1, 2018, the Company is required to make quarterly earn-out payments for a period of four years following closing, based on actual sales levels of galvanized pipe and tube. The fair value of the contingent consideration was estimated by applying the probability-weighted expected return method using management's estimates of pounds to be shipped and future price per unit. Changes to the fair value of the earn-out liability are determined each quarter-end and charged to income or expense in the “Earn-Out Adjustments” line item in the Consolidated Statements of Operations and Comprehensive Income. Revenue Recognition Revenues are recognized when control of the promised goods or services is transferred to our customers upon shipment, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Substantially all of the Company's revenues are derived from contracts with customers where performance obligations are satisfied at a point-in-time. Our contracts with customers may include multiple performance obligations. For such arrangements, revenue for each performance obligation is based on its standalone selling price and revenue is recognized as each performance obligation is satisfied. The Company generally determines standalone selling prices based on the prices charged to customers using the adjusted market assessment approach or expected cost plus margin. Deferred revenues are recorded when cash payments are received in advance of satisfying the performance obligation, including amounts which are refundable. Shipping Costs Shipping costs of approximately $9,846,616 , $7,502,945 and $4,488,041 in 2018 , 2017 and 2016 , respectively, are recorded in cost of goods sold. Research and Development Expenses The Company incurred research and development expense of approximately $548,464 , $556,181 and $603,067 in 2018 , 2017 and 2016 , respectively. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing accounts and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized. Additionally, the Company maintains reserves for uncertain tax provisions. Earnings Per Share of Common Stock Earnings per share of common stock are computed based on the weighted average number of basic and diluted shares outstanding during each period. Fair Market Value The Company makes estimates of fair value in accounting for certain transactions, in testing and measuring impairment and in providing disclosures of fair value in its consolidated financial statements. The Company determines the fair values of its financial instruments for disclosure purposes by maximizing the use of observable inputs and minimizing the use of unobservable inputs when measuring fair value. Fair value disclosures for assets and liabilities are grouped in three levels. The levels prioritize the inputs used to measure the fair value of the assets or liabilities. These levels are: Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 - Inputs other than quoted prices that are observable for assets and liabilities, either directly or indirectly. These inputs include quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are less active. Level 3 - Unobservable inputs that are supported by little or no market activity for assets or liabilities and includes certain pricing models, discounted cash flow methodologies and similar techniques. Estimates of fair value using levels 2 and 3 may require judgments as to the timing and amount of cash flows, discount rates, and other factors requiring significant judgment, and the outcomes may vary widely depending on the selection of these assumptions. The Company's most significant fair value estimates as of December 31, 2018 and December 31, 2017 relate to the purchase price allocation relating to the 2017 MUSA-Stainless and 2018 MUSA-Galvanized acquisitions, earn-out liabilities, nickel forward option contracts, estimating the fair value of the reporting units in testing goodwill for impairment, estimating the fair value of the interest rate swap, and providing disclosures of the fair values of financial instruments. Use of Estimates The preparation of the consolidated financial statements requires management to make estimates and assumptions, primarily for testing goodwill for impairment, determining balances for the earn-out liabilities, estimating fair value of identifiable assets acquired and liabilities assumed as a result of business acquisitions and for establishing reserves on accounts receivable, inventories and environmental issues, that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash deposits and trade accounts receivable. Recent accounting pronouncements Recently Issued Accounting Standards - Adopted In May 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606) ". Topic 606 supersedes the revenue recognition requirements in Topic 605 “Revenue Recognition” (Topic 605), and requires entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted Topic 606 as of January 1, 2018 using the modified retrospective transition method. The adoption of this Topic did not have an effect on the Company's consolidated financial statements. See Note 22 for further details. In January 2016, the FASB issued ASU No. 2016-01, " Financial Instruments (Topic 825)", to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The standard requires equity investments (except for those under the equity method of accounting) to be measured at fair value, with changes in fair value recognized in net income. The amendments in the update supersede the guidance to classify equity securities with readily determinable fair values into different categories, and require equity securities to be measured at fair value with changes recognized in net income as opposed to comprehensive income. The Company adopted ASU 2016-01 effective January 1, 2018 and the effects of this standard are included in the accompanying consolidated financial statements. The Company applied the standard by means of a cumulative effective adjustment to the balance sheet as of January 1, 2018, which resulted in a reclassification of $10,864 from Accumulated Other Comprehensive Loss to Retained Earnings. The adoption of this standard also resulted in a $2,573,000 mark-to-market valuation loss on investments in equity securities recognized in net income in 2018, which would have previously been recorded to Comprehensive Income. In January 2017, the FASB issued ASU No. 2017-01 “ Business Combinations (Topic 805): Clarifying the Definition of a Business. ” ASU 2017-01 provides guidance to evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. If substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single asset or a group of similar assets, the assets acquired (or disposed of) are not considered a business. The Company adopted ASU 2017-01 as of January 1, 2018 on a prospective basis. The adoption of this Topic did not have an effect on the Company's consolidated financial statements as of December 31, 2018. In May 2017, the FASB issued ASU 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting," which amends the scope of modification accounting for share-based payment arrangements, provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. The Company adopted ASU 2017-09 as of January 1, 2018 on a prospective basis. The adoption of this Topic did not have an effect on the Company's consolidated financial statements as of December 31, 2018. Recently Issued Accounting Standards - Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02 "Leases (Topic 842)", as amended, which generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. We will adopt the new standard effective January 1, 2019 on a modified retrospective basis and will not restate comparative periods. We will elect the package of practical expedients permitted under the transition guidance, which allows us to carryforward our historical lease classification, our assessment on whether a contract is or contains a lease, and our initial direct costs for any leases that exist prior to adoption of the new standard. We did not elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. We also elected to combine lease and non-lease components and elected the short-term lease recognition exemption for all leases that qualify. On adoption, we currently expect to recognize additional operating liabilities ranging from $32,000,000 to $36,000,000 with corresponding right-of-use assets of a materially similar amount based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. The Company will also record a cumulative-effect adjustment to equity totaling approximately $6,000,000 related to the derecognition of the existing deferred gain for a sale leaseback transaction that occurred in 2016 (see note 12 to the Consolidated Financial Statements). We do not expect the new standard to have a material impact on the consolidated statement of operations. In August 2018, the FASB issued ASU No. 2018-13 " Fair Value Measurement (Topic 820)" . The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the impact of adopting the updated provisions.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company's financial instruments include cash and cash equivalents, accounts receivable, derivative instruments, accounts payable, earn-out liabilities, revolving line of credit and equity investments. Level 1 Financial Instruments For short-term instruments, other than those required to be reported at fair value on a recurring basis and for which additional disclosures are included below, management concluded the historical carrying value is a reasonable estimate of fair value because of the short period of time between the origination of such instruments and their expected realization. Therefore as of December 31, 2018 and December 31, 2017 , the carrying amount for cash and cash equivalents, accounts receivable, accounts payable and the Company's revolving line of credit, which is based on a variable interest rate, approximates their fair value. During 2018 , the Company recorded an unrealized loss on its Level 1 investment in equity securities of $2,572,703 which is included in "Other expense (income)" on the accompanying Consolidated Statement of Operations. The fair value of equity securities held by the Company as of December 31, 2018 and December 31, 2017 was $2,935,000 and $537,233 , respectively, and is included in “Prepaid expenses and other current assets” on the accompanying Consolidated Balance Sheets. The equity securities are classified as Level 1 financial instruments. The Company did not have any equity securities at December 31, 2016. During 2017, the Company sold shares of its equity securities investments. Proceeds from the sale totaled $4,141,564 which resulted in a realized gain of $310,043 which is included in other income on the accompanying consolidated statements of operations. As a result of the sale, unrealized gains of $555,979 , $366,346 net of taxes, were reclassified out of accumulated other comprehensive income ("AOCI") with the realized gain on sale included in earnings. The Company used the average cost method to determine the realized gain or loss for each transaction. Level 2 Financial Instruments The Company has one interest rate swap contract, which is classified as a Level 2 financial instrument as it is not actively traded and is valued using pricing models that use observable market inputs. The fair value of the interest rate swap contract entered into on August 21, 2012 was an asset of $147,465 and $127,981 at December 31, 2018 and December 31, 2017 , respectively. The interest rate swap was priced using discounted cash flow techniques. Changes in its fair value were recorded to other income (expense) with corresponding offsetting entries to current assets or liabilities, as appropriate. Significant inputs to the discounted cash flow model include projected future cash flows based on projected one-month LIBOR and the average margin for companies with similar credit ratings and similar maturities. See Note 17 for further discussion of interest rate swap. To manage the impact on earnings of fluctuating nickel prices, the Company occasionally enters into three -month forward option contracts, which are classified as Level 2. At December 31, 2018, the Company had no such contracts in place. At December 31, 2017, the Company had contracts in place with notional quantities totaling 1,351,494 pounds with strike prices ranging from $3.75 to $4.64 per pound. The fair value of the option contracts was an asset of $9,027 at December 31, 2017. The fair value of the contracts was priced using discounted cash flow techniques based on forward curves and volatility levels by asset class determined on the basis of observable market inputs, when available. Changes in their fair value were recorded to "Other expense (income)" with corresponding offsetting entries to other current assets. Level 3 Financial Instruments The fair value of contingent consideration liabilities ("earn-out") resulting from the 2017 MUSA-Stainless acquisition and 2018 MUSA-Galvanized acquisition are classified as Level 3. The fair value of the MUSA-Stainless earn-out was estimated by applying the Monte Carlo Simulation approach using management's projection of pounds to be shipped and future price per unit. The fair value of the MUSA-Galvanized earn-out was estimated by applying the probability-weighted expected return method, using management's projection of pounds to be shipped and future price per unit. Each quarter-end, the Company re-evaluates its assumptions for both earn-out liabilities and adjusts to reflect the updated fair values. Changes in the estimated fair value of the earn-out liabilities are reflected in the results of operations in the periods in which they are identified. Changes in the fair value of the earn-out liabilities may materially impact and cause volatility in the Company's operating results. There were no changes in the carrying amount of the earn-out liability for the year ended December 31, 2016. The following table presents a summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis for 2018 : MUSA Earn-Out Liabilities Balance at December 31, 2016 $ — Fair value of the earn-out liability associated with the MUSA-Stainless acquisition 4,663,783 Earn-out payments to MUSA (518,456 ) Changes in fair value during the period 688,523 Balance at December 31, 2017 $ 4,833,850 Fair value of the earn-out liability associated with the MUSA-Galvanized acquisition 3,800,298 Earn-out payments to MUSA (2,455,446 ) Changes in fair value during the period 1,430,682 Balance at December 31, 2018 $ 7,609,384 There were no transfers of assets or liabilities between Level 1, Level 2 and Level 3 in the years ended December 31, 2018 or December 31, 2017 . There have also been no changes in the fair value methodologies used by the Company during the years ended December 31, 2018 or December 31, 2017 .

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment consist of the following: 2018 2017 Land $ 62,916 $ 62,916 Leasehold improvements 1,162,942 544,186 Buildings 412,301 412,301 Machinery, fixtures and equipment 91,514,620 81,229,311 Machinery and equipment under capital lease 1,416,114 401,077 Construction-in-progress 3,643,795 2,881,654 98,212,688 85,531,445 Less accumulated depreciation 57,288,233 50,451,436 Property, plant and equipment, net $ 40,924,455 $ 35,080,009 The Company recorded depreciation expense of $6,411,900 , $5,294,695 , and $4,235,203 for 2018 , 2017 and 2016 , respectively. Accumulated depreciation includes $707,112 and $86,357 at December 31, 2018 and December 31, 2017 , respectively, for assets acquired under capital leases.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Changes in the carrying amount of goodwill by segment for the year ended December 31, 2018 and December 31, 2017 are as follows: Specialty Chemicals Segment Metals Segment Total Balance at December 31, 2016 $ 1,354,730 $ — $ 1,354,730 MUSA-Stainless Acquisition — 4,648,795 4,648,795 Balance at December 31, 2017 $ 1,354,730 $ 4,648,795 $ 6,003,525 MUSA-Galvanized Acquisition — 3,796,467 3,796,467 Balance at December 31, 2018 $ 1,354,730 $ 8,445,262 $ 9,799,992

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt 2018 2017 $100,000,000 Revolving line of credit, due December 20, 2021 $ 76,405,458 $ 25,913,557 On August 31, 2016, the Company amended its Credit Agreement with its bank to create a new credit facility in the form of an asset-based revolving line of credit (the "Line") in the amount of $45,000,000 . The Line was used to refinance and consolidate all previous debt agreements. The maturity date of the Line was February 28, 2019. Interest on the Line was calculated using the One Month LIBOR Rate (as defined in the Credit Agreement), plus a pre-defined spread. Borrowings under the Line were limited to an amount equal to a Borrowing Base calculation (as defined in the Credit Agreement) that includes eligible accounts receivable and inventory. Pursuant to the Credit Agreement, the Company was required to pledge all of its tangible and intangible properties, including the stock and membership interests of its subsidiaries. In the Credit Agreement, the Company's bank agreed to release its liens on the real estate properties covered by the Purchase and Sale Agreement with Store Funding, as described in Note 12. On October 30, 2017, the Company amended its Credit Agreement with its bank to increase the limit of the Line by $20,000,000 to a maximum of $65,000,000 and extended the maturity date to October 30, 2020. None of the other provisions of the Credit Agreement were changed as a result of this amendment. On June 29, 2018, the Company amended its Credit Agreement with its bank to increase the limit of the Line by $15,000,000 to a maximum of $80,000,000 . As a result of the amendment, the interest rate on the Line is now calculated using One Month LIBOR plus a spread of 1.65 percent . None of the other provisions of the Credit Agreement were changed as a result of this amendment. On December 20, 2018, the Company amended its Credit Agreement with its bank to refinance and increase its Line from $80,000,000 to $100,000,000 and to create a new 5 -year term loan in the principal amount of $20,000,000 (the “Term Loan”). The Term Loan was used to finance the purchase of substantially all of the assets of American Stainless (see Note 23). The Term Loan’s maturity date is February 1, 2024, and shall be repaid in 60 consecutive monthly installments. Interest on the Term Loan is calculated using the One Month LIBOR Rate (as defined in the Credit Agreement), plus 1.90 percent . The Line will be used for working capital needs and as a source for funding future acquisitions. The maturity date has been extended to December 20, 2021. Interest on the Line remains unchanged and is calculated using the One Month LIBOR Rate, plus 1.65 percent . Borrowings under the Line are limited to an amount equal to a Borrowing Base calculation that includes eligible accounts receivable and inventory. Covenants under the Credit Agreement include maintaining a minimum fixed charge coverage ratio, maintaining a minimum tangible net worth, and a limitation on the Company’s maximum amount of capital expenditures per year, which is in line with currently projected needs. The Company evaluated this transaction and determined the restructuring should be accounted for as a debt modification. The Company incurred lender and third party costs associated with the debt restructuring that were capitalized on the balance sheet in non-current assets. At December 31, 2018 , the Company was in compliance with all debt covenants. The Line interest rate was 4.19 percent and 3.44 percent at December 31, 2018 and December 31, 2017 , respectively. Additionally, the Company is required to pay a fee equal to 0.15 percent on the average daily unused amount of the Line on a quarterly basis. As of December 31, 2018 , the amount available for borrowing under the Line was $93,860,450 of which $76,405,458 was borrowed, leaving $17,454,992 of availability. Average Line borrowings outstanding during fiscal 2018 and 2017 were $49,030,098 and $27,895,901 with weighted average interest rates of 4.51 percent and 3.09 percent , respectively. The Company made interest payments on all credit facilities of $1,725,150 in 2018 , $856,651 in 2017 and $826,478 in 2016 .

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consist of the following: 2018 2017 Salaries, wages, and commissions 5,208,495 3,219,190 Taxes, other than income taxes 852,116 921,476 Current portion of earn-out liability 2,906,822 1,663,751 Advances from customers 177,518 184,874 Insurance 321,000 372,000 Professional fees 256,296 343,706 Warranty reserve 38,020 37,771 Benefit plans 265,605 208,717 Insurance financing liability 347,440 224,961 Current portion, capital lease obligation 267,028 76,198 Customer rebate liability 701,361 439,912 Current portion, environmental reserves — 549,000 Current portion, deferred gain sale-leaseback 334,273 334,273 Other accrued items 487,712 417,625 Total accrued expenses $ 12,163,686 $ 8,993,454

Environmental Compliance Costs

Environmental Compliance Costs	12 Months Ended
	Dec. 31, 2018
Environmental Remediation Obligations [Abstract]
Environmental Compliance Costs	Environmental Compliance Costs Prior to 1987, the Company utilized certain products at its chemical facilities that are currently classified as hazardous materials. Testing of the groundwater in the areas of the former wastewater treatment impoundments at these facilities disclosed the presence of certain contaminants. In addition, several solid waste management units ("SWMUs") at the plant sites have been identified. During 2014, at the former Augusta, GA plant site, the Georgia Department of Natural Resources, Environmental Protection Division ("EPD") closed the surface impoundment regulated unit since the Company met post-closure clean-up goals and the Company renewed the Corrective Action Permit, which includes a site-wide corrective action plan, long-term monitoring and institutional controls; such actions were completed in the second quarter of 2018. In the first quarter of 2019, the Company and EPD executed an Environmental Covenant with respect to the Augusta, GA plant site. Because the Company does not anticipate material future costs associated with the corrective action efforts, no reserve was deemed necessary at December 31, 2018. At December 31, 2017, the Company had accrued $474,000 for the completion of the site-wide corrective action plan. As a result of the evolving nature of the environmental regulations, the difficulty in estimating the extent and remedy of environmental contamination and the availability and application of technology, the estimated costs for future environmental compliance and remediation are subject to uncertainties and it is not possible to predict the amount or timing of future costs of environmental matters which may subsequently be determined. The Company does not anticipate any insurance recoveries to offset the environmental remediation costs it has incurred. Due to the uncertainty regarding court and regulatory decisions, and possible future legislation or rulings regarding the environment, many insurers will not cover environmental impairment risks, particularly in the chemical industry. Hence, the Company has been unable to obtain this coverage at an affordable price. There can be no assurance that any future capital and operating expenditures to maintain compliance with environmental laws, as well as costs to address contamination or environmental claims, will not exceed any current estimates or adversely affect our financial condition and results of operations. In addition, any unanticipated liabilities or obligations arising, for example, out of discovery of previously unknown conditions or changes in laws or regulations, could have an adverse effect on our business, financial condition, results of operations or cash flows.

Deferred Compensation

Deferred Compensation	12 Months Ended
	Dec. 31, 2018
Compensation Related Costs [Abstract]
Deferred Compensation	Deferred Compensation The Company has deferred compensation agreements with certain former officers providing for payments for the longer of ten years or life from age 65 . The present value of such vested future payments, $116,785 at December 31, 2018 and $159,080 at December 31, 2017 , has been accrued.

Stock Options, Stock Grants and

Stock Options, Stock Grants and New Stock Issues	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options, Stock Grants and New Stock Issues	Stock Options, Stock Grants and New Stock Issues A summary of activity in the Company's stock option plans is as follows: Weighted Average Exercise Price Options Outstanding Weighted Average Contractual Term (in years) Intrinsic Value of Options Options Available At January 01, 2016 $ 12.79 173,985 6.4 $ — 152,028 Expired $ 16.01 (937 ) 937 At December 31, 2016 $ 12.77 173,048 5.4 $ — 152,965 Exercised $ 11.55 (25,632 ) $ 78,818 Expired $ 15.26 (1,905 ) 1,905 At December 31, 2017 $ 12.96 145,511 4.6 $ 156,445 154,870 Exercised $ 12.09 (85,440 ) $ 842,742 Expired $ 16.01 (975 ) 975 At December 31, 2018 $ 14.16 59,096 4.8 $ 143,737 155,845 Exercisable options $ 13.82 49,127 4.5 $ 136,123 Options expected to vest: Grant Date Fair Value At December 31, 2016 $ 14.72 43,286 7.1 $ 6.24 Vested $ 14.35 (17,574 ) $ 5.96 Forfeited options $ 15.38 (62 ) At December 31, 2017 $ 14.72 25,650 6.5 $ 6.41 Vested $ 14.78 (15,380 ) $ 6.38 Forfeited options $ 16.01 (301 ) At December 31, 2018 $ 15.83 9,969 6.0 $ 6.44 The following table summarizes information about stock options outstanding at December 31, 2018 : Range of Exercise Prices Outstanding Stock Options Exercisable Stock Options Shares Weighted Average Shares Weighted Average Exercise Price Exercise Price Remaining Contractual Life in Years $ 11.35 13,402 $ 11.35 3.10 13,402 $ 11.35 $ 13.70 15,933 $ 13.70 4.10 15,933 $ 13.70 $ 14.76 8,109 $ 14.76 5.14 6,643 $ 14.76 $ 16.01 21,652 $ 16.01 6.11 13,149 $ 16.01 59,096 49,127 The 2011 Long-Term Incentive Stock Option Plan (the "2011 Plan") is an incentive stock option plan; therefore, there are no income tax consequences to the Company when an option is granted or exercised. The stock options will vest in 20 percent increments annually on a cumulative basis, beginning one year after the date of grant. In order for the options to vest, the employee must be in the continuous employment of the Company since the date of the grant. Any portion of the grant that has not vested will be forfeited upon termination of employment. Shares representing grants that have not yet vested will be held in escrow by the Company. An employee will not be entitled to any voting rights with respect to any shares not yet vested, and the shares are not transferable. On February 10, 2015 , the Company granted options to purchase 32,532 shares of its commons stock at an exercise price of $16.01 per share to participants in the 2011 Plan. The per share weighted-average fair value of this stock option grant was $6.39 . The Black-Scholes model for this grant was based on a risk-free interest rate of two percent , an expected life of seven years, an expected volatility of 0.46 and a dividend yield of two percent . In 2018 and 2017, options for 85,440 and 25,632 shares, respectively, were exercised by employees and directors for an aggregate exercise price of $1,033,110 and $296,050 , respectively. The proceeds received by the Company were generated from the surrender of 10,578 shares previously owned from employees and directors in 2018 and from cash received of $141,855 in 2018. No options were exercised by employees or directors in 2016. At the 2018 , 2017 and 2016 respective year ends, options to purchase 49,127 , 119,861 and 129,762 shares, respectively, with weighted average exercise prices of $13.82 , $12.45 and $12.12 , respectively, were fully exercisable. Compensation cost charged against income before taxes for the options was approximately $46,529 for 2018 , $80,966 for 2017 and $135,085 for 2016 . As of December 31, 2018 , there was $36,420 of unrecognized compensation cost related to unvested stock options granted under the Company's stock option plans. The weighted average period over which the stock option compensation cost is expected to be recognized is 1.06 years. The Compensation & Long-Term Incentive Committee ("Compensation Committee") of the Board of Directors of the Company approved stock grants under the Company's 2005 Stock Awards Plan to certain management employees of the Company. The stock grants will vest in 20 percent increments annually on a cumulative basis, beginning one year after the date of grant. In order for the grants to vest, the employee must be in the continuous employment of the Company since the date of the grant. Any portion of the grant that has not vested will be forfeited upon termination of employment. Shares representing grants that have not yet vested will be held in escrow by the Company. An employee will not be entitled to any voting rights with respect to any shares not yet vested, and the shares are not transferable. The 2015 Stock Awards Plan was approved by the Compensation Committee and authorizes the issuance of up to 250,000 shares which can be awarded for a period of 10 years from the effective date of the plan. Prior to May 9, 2017, as discussed below, the stock awards vest in 20 percent increments annually on a cumulative basis, beginning one year after the date of grant from shares held in treasury with the Company. In order for the awards to vest, the employee must be in the continuous employment of the Company since the date of the award. Any portion of an award that has not vested is forfeited upon termination of employment. The Company may terminate any portion of the award that has not vested upon an employee's failure to comply with all conditions of the award or the 2015 Stock Awards Plan. An employee is not entitled to any voting rights with respect to any shares not yet vested, and the shares are not transferable. On February 19, 2016, the Compensation Committee approved stock grants under the Company's 2015 Stock Awards Plan to certain management employees of the Company where 50,062 shares with a market price of $7.51 per share were granted under the Plan. On May 5, 2016, the Compensation Committee approved stock grants under the Company's 2015 Stock Awards Plan to certain management employees of the Company where 42,193 shares with a market price of $8.05 per share were granted under the Plan. On February 8, 2017, the Compensation Committee approved stock grants under the Company's 2015 Stock Awards Plan to certain management employees of the Company where 44,687 shares with a market price of $12.30 per share were granted under the Plan. On February 7, 2018, the Compensation Committee approved stock grants under the Company's 2015 Stock Awards Plan to certain management employees of the Company where 65,527 shares with a market price of $12.47 per share were granted under the Plan. These stock awards vest in either 20 percent or 33 percent increments annually on a cumulative basis, beginning one year after the date of grant. Effective May 1, 2017, the Company's Board of Directors approved the First Amendment to the 2015 Stock Awards Plan. The amendment grants the Compensation Committee the authority to establish and amend vesting schedules for stock awards made pursuant to the 2015 Stock Awards Plan. On May 9, 2017, the Committee approved the amendment of the vesting schedules for the May 5, 2016 and February 8, 2017 stock grants reducing the vesting period from five years to three years . As a result of this amendment, compensation expense increased in 2017 by $75,756 and $67,180 , for the five employees receiving grants on May 5, 2016 and eight employees receiving grants on February 8, 2017, respectively. On May 17, 2018, a majority of the shareholders of the Company, upon the recommendation of the Company's Board of Directors, voted to amend and restate the 2015 Stock Awards Plan to increase the authorization of issuances from 250,000 shares to 500,000 shares. A summary of plan activity for the 2005 and 2015 Stock Awards Plans is as follows: Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2015 51,440 $ 15.57 Granted February 19, 2016 50,062 $ 7.51 Granted May 5, 2016 42,193 $ 8.05 Vested (21,133 ) $ 13.12 Forfeited (1,260 ) $ 17.73 Outstanding at December 31, 2016 121,302 $ 10.03 Granted February 8, 2017 44,687 $ 12.30 Vested (34,322 ) $ 10.45 Outstanding at December 31, 2017 131,667 $ 10.69 Granted February 7, 2018 65,527 $ 12.47 Vested (51,775 ) $ 10.84 Forfeited (3,245 ) $ 10.96 Outstanding at December 31, 2018 142,174 $ 11.45 Compensation expense on the grants issued is charged against earnings equally before forfeitures, if any, over a period of 60 months from the date of the grants for grants prior to May 5, 2016, with the offset recorded in Shareholders' Equity. Compensation expense on grants issued after that date is charged against earnings over 36 months. Compensation cost charged against income for the awards was approximately $780,469 , $616,571 net of income taxes, or $0.07 per share for 2018 , $557,450 , $354,538 net of income taxes, or $0.04 per share for 2017 and $324,388 , $206,311 net of income taxes, or $0.02 per share, for 2016 . As of December 31, 2018 , there was $1,077,095 of total unrecognized compensation cost related to unvested stock grants under the Company's Stock Awards Plan. The weighted average period over which the stock grant compensation cost is expected to be recognized is 1.88 years. Each year, the Company allows each non-employee director to elect to receive up to 100 percent of their annual retainer in restricted stock. The number of restricted shares issued is determined by the average of the high and low common stock price on the day prior to the Annual Meeting of Shareholders or the date prior to the appointment to the Board for those individuals that are appointed mid-term. On May 17, 2018 , May 18, 2017 and May 5, 2016 , non-employee directors received an aggregate of 14,857 , 24,209 and 40,991 shares, respectively, of restricted stock in lieu of total retainer fees of $276,000 , $287,500 and $330,000 , respectively. The shares granted to the directors are not registered under the Securities Act of 1933 and are subject to forfeiture in whole or in part upon the occurrence of certain events.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax liabilities and assets are as follows at the respective year ends: 2018 2017 Deferred income tax assets: Sale leaseback deferred gain $ 1,310,850 $ 1,382,270 Inventory valuation reserves 174,377 209,745 Allowance for doubtful accounts 35,955 7,944 Inventory capitalization 1,500,710 943,203 Environmental reserves — 124,029 Warranty accrual 8,084 8,132 Deferred compensation 28,090 36,617 Accrued bonus 910,824 483,238 Accrued expenses 22,957 24,749 State net operating loss carryforwards 1,934,071 2,069,258 Equity security mark to market 622,189 3,248 Straight line lease 230,841 123,570 Other 507,997 352,520 Total deferred income tax assets 7,286,945 5,768,523 Valuation allowance (1,765,993 ) (2,087,860 ) Total net deferred income tax assets 5,520,952 3,680,663 Deferred income tax liabilities: Tax over book depreciation and amortization 5,120,533 3,971,816 Prepaid expenses 377,498 174,322 Interest rate swap 103,708 87,016 Other 172,201 83,419 Total deferred income tax liabilities 5,773,940 4,316,573 Deferred income taxes $ (252,988 ) $ (635,910 ) Significant components of the provision for income taxes from continuing operations are as follows: 2018 2017 2016 Current: Federal $ 3,468,673 $ 1,067,490 $ (980,495 ) State 290,459 106,832 190,230 Total current 3,759,132 1,174,322 (790,265 ) Deferred: Federal (107,879 ) (1,043,384 ) (1,329,302 ) State (275,043 ) 6,201 (78,433 ) Total deferred (382,922 ) (1,037,183 ) (1,407,735 ) Total $ 3,376,210 $ 137,139 $ (2,198,000 ) Tax benefit from discontinued operations amounted to $51,000 for the fiscal year ended December 31, 2016. The Company did not have any discontinued operations for 2018 and 2017. The reconciliation of income tax computed at the U. S. federal statutory tax rates to income tax expense is: 2018 2017 2016 Amount % Amount % Amount % Tax at U.S. statutory rates $ 3,459,464 21.0 % $ 502,690 34.0 % $ (3,125,382 ) 34.0 % State income taxes, net of federal tax benefit 268,924 1.6 % 65,546 4.4 % (48,842 ) 0.5 % State valuation allowance (314,505 ) (1.9 )% 8,498 0.6 % 95,961 (1.0 )% Life insurance cash surrender value — — % — — % 503,700 (5.5 )% Manufacturing exemption — — % (116,980 ) (7.9 )% — — % Stock option compensation (39,401 ) (0.2 )% 226 — % 45,929 (0.5 )% Rate change effects — — % (380,961 ) (25.8 )% — — % Other, net 1,728 — % 58,120 4.0 % 330,634 (3.6 )% Total $ 3,376,210 20.5 % $ 137,139 9.3 % $ (2,198,000 ) 23.9 % Income tax payments of $2,419,009 , $2,576,515 and $991,888 were made in 2018 , 2017 and 2016 , respectively. The Company had state net operating loss carryforwards at the end of fiscal years 2018 and 2017 of $46,511,086 and $49,711,027 , respectively. The majority of these losses will expire between the years of 2018 and 2037, while various losses are not subject to expiration. A valuation allowance has been set up against $41,742,152 of these state net operating loss carryforwards because it is not more likely than not that the losses will be realized in the foreseeable future. The portion of the valuation allowance for the state net operating loss carryforwards was $1,689,246 and $2,064,674 at December 31, 2018 and December 31, 2017, respectively. In addition, a $76,747 and $23,186 valuation allowance was established at December 31, 2018 and 2017 respectively, for other deferred tax assets. This resulted in a valuation allowance decrease of $321,867 all related to continuing operations. The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of multiple state jurisdictions. The Company is no longer subject to U.S. federal examinations for years before 2014 or state income tax examinations for years before 2013. The Company had no uncertain tax position activity during 2018 or 2017. The Company's continuing practice is to recognize interest and/or penalties related to income tax matters in the provision for income taxes. The Company had no accruals for uncertain tax positions including interest and penalties at the end of 2018. On December 22, 2017, the Tax Cuts and Jobs Act (“The Tax Act”) was signed into law by the President of the United States, enacting significant changes to the Internal Revenue Code effective January 1, 2018. The Tax Act includes a number of provisions including, but not limited to, a permanent reduction of the U.S. corporate tax rate from 35 percent to 21 percent , eliminating the deduction for domestic production activities, limiting the tax deductibility of interest expense, accelerating the expensing of certain business assets and reducing the amount of executive pay that could qualify as a tax deduction. Many effects of The Tax Act are international in nature, such as the one-time transition tax, base erosion anti-abuse tax and the global intangible low-taxed income tax, and thus would not pertain to the Company as it has no international operations. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of The Tax Act. During the fourth quarter ended December 31, 2018 the Company completed the accounting of certain income tax effects upon filing of the U.S. corporate income tax return. As a result, the Company recorded an insignificant amount of income tax expense to complete its accounting for The Tax Act, allowed under SAB 118.

Benefit Plans and Collective Ba

Benefit Plans and Collective Bargaining Agreements	12 Months Ended
	Dec. 31, 2018
Retirement Benefits [Abstract]
Benefit Plans and Collective Bargaining Agreements	Benefit Plans and Collective Bargaining Agreements The Company has a 401(k) Employee Stock Ownership Plan (the "401(k)/ESOP Plan") covering all non-union employees. Employees could contribute to the 401(k)/ESOP Plan up to 100 percent of their wages with a maximum of $18,500 for 2018 . Under the Economic Growth and Tax Relief Reconciliation Act, employees who are age 50 or older could contribute an additional $6,000 per year for a maximum of $24,500 for 2018 . Contributions by the employees are invested in one or more funds at the direction of the employee; however, employee contributions cannot be invested in Company stock. For the year ended December 31, 2015, contributions by the Company were made in cash and then used by the 401(k)/ESOP Plan Trustee to purchase Company stock. Effective January 1, 2016, contributions by the Company are made in accordance with the investment elections made by each participant for his or her deferral contributions. The Company contributes on behalf of each eligible participant a matching contribution equal to a percentage determined each year by the Board of Directors. For 2018 , 2017 and 2016 the maximum was 100 percent of employee contributions up to a maximum of four percent of their eligible compensation. The matching contribution is applied to the employee accounts after each payroll. Matching contributions of approximately $694,795 , $608,473 and $516,991 were made for 2018 , 2017 and 2016 , respectively. The Company may also make a discretionary contribution, which if made, would be distributed to all eligible participants regardless of whether they contribute to the 401(k)/ESOP Plan. No discretionary contributions were made to the 401(k)/ESOP Plan in 2018 , 2017 or 2016 . The Company also has a 401(k) and Profit Sharing Plan (the "Bristol Plan") covering all employees as part of the United Steel Workers of America, Local Union 4586 Collective Bargaining Agreement (" Bristol CBA"). Employees could contribute to the Bristol Plan up to 60 percent of pretax annual compensation, as defined in the Bristol Plan, with a maximum of $18,500 for 2018 . Under the Economic Growth and Tax Relief Reconciliation Act, employees who are age 50 or older could contribute an additional $6,000 per year for a maximum of $24,500 for 2018 . The Company contributes three percent of a participant's eligible compensation for the plan year, regardless of whether the participants contribute to the Bristol Plan. The Company's contributions were $215,778 , $174,229 and $136,763 for 2018 , 2017 and 2016 , respectively. Additional profit sharing amounts may also be contributed at the option of the Company's Board of Directors, which if made, would be allocated to participants based on the ratio of the participant's compensation to the total compensation of all participants eligible to participate in the Bristol Plan. No discretionary contributions were made to the Bristol Plan in 2018 , 2017 or 2016 . In connection with the MUSA-Stainless acquisition discussed in Note 18, the Company assumed the rights and obligations pursuant to the Collective Bargaining Agreement (the "Munhall CBA") between MUSA and the United Steel Workers of America, Local Union 5852-22 (the " Munhall Union"). As a part of this Munhall CBA, the Company assumed the obligation of participating in the Steelworkers Pension Trust, a union-sponsored multi-employer defined benefit plan (the "Munhall Plan"), which covers all the Company's eligible Munhall Union employees. The Munhall Plan has a calendar plan year. Per the most recent available annual funding notice, the plan was at least 80 percent funded for the plan year ended December 31, 2017 . Per the terms of the Munhall CBA the Company contributes 4 percent of each participant's eligible compensation for the 2018 plan year. Munhall Union employees make no contributions to the Munhall Plan. The Company's contributions are less than 5 percent of total contributions to the plan based on contributions for the plan year ended December 31, 2016. The Company's contributions to the Munhall Plan totaled $129,403 and $69,245 for the years ended December 31, 2018 and December 31, 2017, respectively. Additionally, as part of the Munhall CBA, members of the union are eligible to make deferral contributions to the Company's 401(k)/ESOP Plan per the plan guidelines; however they do not receive matching contributions of the 401(k)/ESOP Plan. The Company also maintains a Collective Bargaining Agreement ( the "Mineral Ridge CBA") with the United Steel Workers of America, Local Union 4564-07, which represents employees at the Specialty-Mineral Ridge facility. In connection with the Mineral Ridge CBA, the Company contributes to union-sponsored defined contribution retirement plans. Contributions relating to these plans were approximately $32,034 , $29,042 and $22,256 for 2018 , 2017 and 2016 , respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Leases	Leases On August 31, 2016, the Company and its operating subsidiaries (collectively the "Synalloy Companies") entered into a Purchase and Sale Agreement ("PSA") with Store Capital Acquisitions, LLC, a Delaware limited liability company and an affiliate of Store Capital Corporation (“Store”). Store Capital Acquisitions assigned its rights under the PSA to Store Funding prior to closing. On September 30, 2016, pursuant to the terms and conditions of the PSA, the Synalloy Companies completed the sale of their real estate properties in Tennessee, South Carolina, Texas and Ohio to Store Funding for a purchase price of $22,000,000 . The net book value of the real estate properties sold totaled $17,769,883 and the Company recognized a loss on the sale of certain locations of $2,455,347 . The Company also recognized a deferred gain of $6,685,464 on the sale of certain locations which is being amortized on the straight-line method over the initial lease term of 20 years . The deferred gain recognized during the fourth quarter of 2016 totaled $83,568 and reduced the net loss recognized at December 31, 2016 in the accompanying consolidated statements of operations to $2,371,778 . The deferred gain in each of the years ended 2018 and 2017 was $334,273 . Concurrent with the sale of its real properties, the Company leased back all real properties sold to Store Funding pursuant to a Master Lease Agreement dated September 30, 2016 (the "Master Lease"). The closing of the sale-leaseback transaction provided the Company with net proceeds (after transaction-related costs) of $21,925,000 . The net proceeds were used to pay down debt under the Company's Credit Agreement, as described in Note 5. The initial non-cancellable term of the lease was 20 years , with two renewal options of 10 years each. The lease includes a rent escalator equal to the lesser of 1.25 times the percentage increase in the Consumer Price Index since the previous increase or two percent . The lease met the operating lease requirements and has been accounted for as such. On June 29, 2018, the Company and Store Funding amended and restated the Master Lease, pursuant to which the Company will lease the Munhall, PA facility, purchased by Store from MUSA on June 29, 2018, for the remainder of the initial term of 20 years set forth in the Master Lease, with two renewal options of 10 years each. The amended Master Lease includes a rent escalator equal to the lesser of 1.25 times the percentage increase in the Consumer Price Index since the previous increase or two percent . The Company leases office space in Spartanburg, South Carolina and Richmond, Virginia, property for a storage yard in Mineral Ridge, Ohio, manufacturing and warehouse space in Munhall, Pennsylvania and various manufacturing and office equipment at each of its locations, all under operating leases. The amount of future minimum lease payments under operating leases are as follows: 2019 3,207,053 2020 3,243,694 2021 3,238,745 2022 3,224,810 2023 3,102,815 Thereafter 45,337,403 Rent expense related to operating leases was $3,994,012 , $3,339,600 and $1,143,895 in 2018 , 2017 and 2016 , respectively. The Company leases machinery and equipment for its manufacturing facilities in Cleveland, Tennessee and Andrews, Texas under capital leases. Future minimum commitments for capital leases are as follows: 2019 $ 354,299 2020 357,733 2021 346,570 2022 18,407 2023 — Total minimum lease payments 1,077,009 Less imputed interest costs 164,826 Present value of net minimum lease payments $ 912,183 The current portion due under the capital lease is included in accrued expenses and the long-term portion is included in other long-term liabilities in the accompanying consolidated balance sheets as of December 31, 2018 and December 31, 2017.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Management is not currently aware of any asserted or unasserted matters which could have a significant effect on the financial condition or results of operations of the Company.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: 2018 2017 2016 Numerator: Net income (loss) from continuing operations $ 13,097,429 $ 1,341,362 $ (6,993,967 ) Net loss from discontinued operations, net of income taxes $ — $ — $ (99,334 ) Denominator: Denominator for basic earnings per share - weighted average shares 8,806,079 8,704,730 8,649,745 Effect of dilutive securities: Employee stock options and stock grants 71,530 22,757 — Denominator for diluted earnings per share - weighted average shares 8,877,609 8,727,487 8,649,745 Net earnings (loss) per share from continuing operations: Basic $ 1.49 $ 0.15 $ (0.81 ) Diluted $ 1.48 $ 0.15 $ (0.81 ) Net loss per share from discontinued operations: Basic $ — $ — $ (0.01 ) Diluted $ — $ — $ (0.01 ) The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had weighted average shares of common stock of 600 in 2018 , 86,524 in 2017 and 295,287 in 2016 , which were not included in the diluted earnings per share calculation as their effect was anti-dilutive.

Industry Segments

Industry Segments	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Industry Segments	Industry Segments The Company's business is divided into two operating segments: Metals and Specialty Chemicals. The Company identifies such segments based on products and services, long-term financial performance and end markets targeted. The Metals Segment operates as three reporting units including Synalloy Metals, Inc., a wholly-owned subsidiary which owns 100 percent of BRISMET, Palmer and Specialty, both wholly-owned subsidiaries of the Company. BRISMET manufactures pipe and tube from stainless steel and other alloys, Palmer produces fiberglass and steel storage tanks and Specialty is a master distributor of seamless carbon pipe and tube. The Metal Segment's products, some of which are custom-produced to individual orders and required for corrosive and high-purity processes, are used principally by the chemical, petrochemical, pulp and paper, mining, power generation (including nuclear), water and wastewater treatment, liquid natural gas, brewery, food processing, petroleum, pharmaceutical and other industries. Products include pipe, storage tanks, pressure vessels and a variety of other components. The Specialty Chemicals Segment operates as one reporting unit which includes MS&C, a wholly owned subsidiary of the Company which owns 100 percent of MC, and CRI Tolling, a wholly owned subsidiary of the Company. The Specialty Chemicals Segment manufactures a wide variety of specialty chemicals for the carpet, chemical, paper, metals, mining, agricultural, fiber, paint, textile, automotive, petroleum, cosmetics, mattress, furniture, janitorial and other industries. MC manufactures lubricants, surfactants, defoamers, reaction intermediaries and sulfated fats and oils. CRI Tolling provides chemical tolling manufacturing resources to global and regional companies and contracts with other chemical companies to manufacture certain pre-defined products. The chief operating decision maker evaluates performance and determines resource allocations based on a number of factors, the primary measure being operating income (loss). The accounting policies of the segments are the same as those described in the summary of significant accounting policies. Segment operating income is the segment's total revenue less operating expenses. Identifiable assets, all of which are located in the United States, are those assets used in operations by each segment. The Metals Segment's identifiable assets did not include any goodwill in 2016. In relation to 2017 MUSA-Stainless and 2018 MUSA-Galvanized acquisitions (see Note 18), the Metals Segment recognized goodwill of $4,648,795 in 2017 and $3,796,467 in 2018, respectively. The Specialty Chemicals Segment's identifiable assets include goodwill of $1,354,730 in 2018 and 2017 . Centralized data processing and accounting expenses are allocated to the two segments based upon estimates of their percentage of usage. Unallocated corporate expenses include environmental charges of $50,617 , $37,748 and $48,000 for 2018, 2017 and 2016, respectively. Corporate assets consist principally of cash, certain investments and equipment. Segment Information: All values are for continuing operations only. 2018 2017 2016 Net sales Metals Segment $ 222,242,145 $ 152,957,195 $ 90,214,537 Specialty Chemicals Segment 58,599,274 48,190,487 48,351,245 $ 280,841,419 $ 201,147,682 $ 138,565,782 Operating income (loss) Metals Segment $ 27,543,907 $ 5,424,624 $ (4,820,374 ) Gain (loss) on sale-leaseback 239,604 239,604 (2,166,136 ) Total Metals Segment 27,783,511 5,664,228 (6,986,510 ) Specialty Chemicals Segment 3,879,405 4,295,576 4,887,143 Gain (loss) on sale-leaseback 94,669 94,669 (205,642 ) Total Specialty Chemicals Segment 3,974,074 4,390,245 4,681,501 31,757,585 10,054,473 (2,305,009 ) Unallocated corporate expenses 7,877,847 6,513,839 5,835,162 Earn-out adjustments 1,430,682 688,523 — Acquisition related costs 1,211,797 794,983 106,227 Operating income (loss) 21,237,259 2,057,128 (8,246,398 ) Interest expense 2,210,506 985,366 932,572 Change in fair value of interest rate swap (19,484 ) (96,696 ) 12,997 Other income, net 2,572,598 (310,043 ) — Income (loss) before income taxes $ 16,473,639 $ 1,478,501 $ (9,191,967 ) Identifiable assets Metals Segment $ 192,195,733 $ 130,456,857 Specialty Chemicals Segment 28,174,675 25,394,078 Corporate 8,028,438 4,023,215 $ 228,398,846 $ 159,874,150 Depreciation and amortization Metals Segment $ 7,197,814 $ 6,280,681 $ 5,132,506 Specialty Chemicals Segment 1,427,629 1,302,579 1,449,437 Corporate 149,734 154,552 113,047 $ 8,775,177 $ 7,737,812 $ 6,694,990 Capital expenditures Metals Segment $ 5,969,216 $ 3,405,552 $ 2,198,535 Specialty Chemicals Segment 1,297,762 1,649,967 475,703 Corporate 87,759 223,089 370,173 $ 7,354,737 $ 5,278,608 $ 3,044,411 Sales by product group Specialty chemicals $ 58,599,274 $ 48,190,487 $ 48,351,245 Stainless steel pipe 146,237,630 100,253,823 56,065,642 Seamless carbon steel pipe and tube 32,473,950 25,103,641 14,913,133 Liquid storage tanks and separation equipment 31,653,832 27,599,731 19,235,762 Galvanized pipe and tube 11,876,733 — — $ 280,841,419 $ 201,147,682 $ 138,565,782 Geographic sales United States $ 273,244,175 $ 196,172,279 $ 132,313,157 Elsewhere 7,597,244 4,975,403 6,252,625 $ 280,841,419 $ 201,147,682 $ 138,565,782

Quarterly Results (Unaudited)

Quarterly Results (Unaudited)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Quarterly Results (Unaudited)	Quarterly Results (Unaudited) The following is a summary of quarterly operations for 2018 and 2017 : First Quarter Second Quarter Third Quarter Fourth Quarter 2018 Net sales $ 58,480,602 $ 71,893,763 $ 77,792,878 $ 72,674,176 Gross profit 11,233,418 15,716,322 14,028,366 10,259,233 Net income 3,835,163 3,677,272 5,035,558 549,436 Per common share Basic 0.44 0.42 0.57 0.06 Diluted 0.44 0.41 0.56 0.06 2017 Net sales $ 42,203,579 $ 51,511,045 $ 54,595,924 $ 52,837,134 Gross profit 7,403,579 8,177,927 4,836,620 7,662,824 Net income (loss) 701,542 829,879 (1,206,752 ) 1,016,693 Other comprehensive income (loss) — 366,346 (366,346 ) (10,864 ) Comprehensive income (loss) — 1,196,225 (1,573,098 ) 1,005,829 Per common share Basic 0.08 0.10 (0.14 ) 0.11 Diluted 0.08 0.10 (0.14 ) 0.11

Interest Rate Swap

Interest Rate Swap	12 Months Ended
	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Swap	Interest Rate Swap As discussed in Note 5, the Company has an interest rate swap associated with its current credit facility which effectively is expected to offset variable interest in the borrowing; hedge accounting was not utilized. The notional amount of the swap was $8,250,000 and $10,500,000 at December 31, 2018 and December 31, 2017 , respectively. The fair value is recorded in current assets or liabilities, as appropriate, with corresponding changes to fair value recorded to other income (expense). The interest rate swap will remain in place for the remainder of the current credit facility's term. The Company recorded an asset of $147,465 and $ 127,981 for the fair value of the swap at December 31, 2018 and December 31, 2017 , respectively.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Acquisitions	Acquisitions Acquisition of the Galvanized Pipe and Tube Assets of Marcegaglia USA, Inc. On July 1, 2018, BRISMET completed the MUSA-Galvanized acquisition. The purpose of the transaction was to enhance the Company's on-going business with additional capacity and technological advantages. The transaction was funded through an increase to the Company's current credit facility (refer to Note 5). The purchase price for the transaction totaled $10,378,281 . The tangible assets purchased and liabilities assumed from MUSA include accounts receivable, inventory, equipment, and accounts payable. MUSA will receive quarterly earn-out payments for a period of four years following closing. Earn-out payments will equate to three percent of BRISMET’s galvanized steel pipe and tube revenue. As of July 1, 2018, the Company forecasted earn-out payments to be $4,244,939 , for which the Company established a fair value of $3,800,298 using a probability-weighted expected return method and a discount rate applicable to future revenue of five percent . In determining the appropriate discount rate to apply to the contingent payments, the risk associated with the functional form of the earn-out, and the credit risk associated with the payment of the earn-out were all considered. The fair value of the contingent consideration was estimated by applying the probability-weighted expected return method using management's estimates of pounds to be shipped and future price per unit. At December 31, 2018 the fair value of the earn-out totaled $3,357,800 with $990,823 of this liability classified as a current liability because the payments will be made quarterly. In the fourth quarter of 2018, management adjusted the fair value of the customer list intangible asset. Because this adjustment was determined within the measurement period, the customer list intangible was decreased by $251,000 and goodwill was increased by $251,000 . Goodwill arising from the MUSA-Galvanized transaction increased from $3,545,467 to $3,796,467 and the fair value of the customer list intangible asset was decreased from $1,424,000 to $1,173,000 . All other changes in fair value have been included as earn-out adjustments in the Company's consolidated statements of operations. The total purchase price was allocated to the acquired net tangible and identifiable intangible assets based on their estimated fair values as of July 1, 2018. The fair value assigned to the customer list intangible is being amortized on an accelerated basis over 15 years. The excess of the consideration transferred over the fair value of the net tangible and identifiable intangible assets is reflected as goodwill. Goodwill consists of manufacturing cost synergies expected from combining Munhall-Galvanized's production capabilities with BRISMET's current operations. All of the goodwill recognized was assigned to the Company's Metals Segment and is expected to be deductible for income tax purposes. During the fourth quarter of 2018, the Company finalized the purchase price allocation for the MUSA-Galvanized acquisition. The following table shows the initial estimate of value and revisions made during 2018: Initial estimate Revisions Final Inventories $ 2,746,000 $ — 2,746,000 Accounts Receivable 2,187,141 — 2,187,141 Other current assets - production and maintenance supplies 746,729 — 746,729 Property, plant and equipment 4,883,847 — 4,883,847 Customer list intangible 1,424,000 (251,000 ) 1,173,000 Goodwill 3,545,467 251,000 3,796,467 Earn-out Liability (3,800,298 ) — (3,800,298 ) Accounts payable (1,051,239 ) — (1,051,239 ) Other liabilities (303,366 ) — (303,366 ) $ 10,378,281 $ — $ 10,378,281 MUSA-Galvanized's results of operations since acquisition are reflected in the Company's consolidated statements of operations as follows: 2018 Net sales $ 11,876,733 Income before income taxes 64,971 The following unaudited pro-forma information is provided to present a summary of the combined results of the Company's operations with Munhall-Galvanized as if the acquisition had occurred on January 1, 2017. The unaudited pro-forma financial information is for information purposes only and is not necessarily indicative of what the results would have been had the acquisition been completed on the date indicated above. Pro-Forma (Unaudited) 2018 2017 Pro-forma net sales $ 292,793,331 $ 225,375,581 Pro-forma net income (loss) $ 11,920,277 $ 20,960 Earnings (loss) per share: Basic $ 1.35 n/a Diluted $ 1.34 n/a The 2018 pro-forma calculation excludes non-recurring acquisition costs of $666,357 that were incurred by the Company during 2018. Munhall-Galvanized's historical financial results were adjusted for both years to eliminate interest expense charged by the prior owner. Pro-forma net income was reduced for both years for the amount of amortization on Munhall-Galvanized's customer list intangible and an estimated amount of interest expense associated with the additional line of credit borrowings. Acquisition of the Stainless Steel Pipe and Tube Assets of Marcegaglia USA, Inc. On December 9, 2016, BRISMET entered into a definitive agreement to acquire the stainless steel pipe and tube assets of MUSA located in Munhall, PA ("MUSA-Stainless") to enhance its on-going business with additional capacity and technological advantages. The transaction closed on February 28, 2017 and was funded through an increase to the Company's credit facility (See Note 5). The purchase price for the transaction, which excluded real estate and certain other assets, totaled $14,953,513 . The assets purchased from MUSA included inventory, production and maintenance supplies and equipment less specific identified liabilities assumed. In accordance with the agreement, on December 9, 2016, BRISMET entered into an escrow agreement and deposited $3,000,000 into the escrow fund. The deposit was remitted to MUSA at the close of the transaction and was reflected as a credit against the purchase price. The transaction was accounted for using the acquisition method of accounting for business combinations. During the fourth quarter of 2017, the Company finalized the purchase price allocation for the MUSA-Stainless acquisition. MUSA will receive quarterly earn-out payments for a period of four years following closing. Aggregate earn-out payments will be at least $3,000,000 , with no maximum. Actual payouts will equate to three percent of BRISMET’s incremental revenue, if any, from the amount of small diameter stainless steel pipe and tube (outside diameter of ten inches or less) sold. At February 28, 2017, the acquisition date, the Company forecasted earn-out payments to be $4,063,204 , which was discounted to a present value of $3,604,330 using a discount rate applicable to future revenue of five percent . In determining the appropriate discount rate to apply to the contingent payments, the risk associated with the functional form of the earn-out, the credit risk associated with the payment of the earn-out and the methodology to quantify the earn-out were all considered. The fair value of the contingent consideration was estimated by applying the Monte Carlo simulation approach using management's estimates of pounds shipped. In the second quarter of 2017, management adjusted the selling price used in the earn-out calculation associated with the MUSA-Stainless acquisition. Since this adjustment was determined within the measurement period, the beginning earn-out liability and goodwill were increased by $1,059,453 . Goodwill related to the MUSA-Stainless acquisition increased from $3,589,342 to $4,648,795 and the fair value of contingent consideration was increased from $3,604,330 to $4,663,783 . All other changes in fair value have been included as earn-out adjustments in the Company's consolidated statements of operations. The total purchase price was allocated to Munhall-Stainless' net tangible and identifiable intangible assets based on their estimated fair values as of February 28, 2017. The fair value assigned to the customer list intangible is being amortized on an accelerated basis over 15 years . The excess of the consideration transferred over the fair value of the net tangible and identifiable intangible assets and liabilities is reflected as goodwill. Goodwill consists of manufacturing cost synergies expected from combining laser mill capabilities acquired as part of Munhall-Stainless with BRISMET's current operations. All of the goodwill recognized was assigned to the Company's Metals Segment and is expected to be deductible for income tax purposes. The following table shows the initial estimate of value and revisions made during 2017: Initial estimate Revisions Final Inventories $ 5,434,000 $ — $ 5,434,000 Other current assets - production and maintenance supplies 1,548,701 — 1,548,701 Equipment 7,576,733 — 7,576,733 Customer list intangible 992,000 — 992,000 Goodwill 3,589,342 1,059,453 4,648,795 Earn-out liability (3,604,330 ) (1,059,453 ) (4,663,783 ) Other liabilities assumed (582,933 ) — (582,933 ) $ 14,953,513 $ — $ 14,953,513 Munhall-Stainless' results of operations since acquisition are reflected in the Company's consolidated statements of operations. The amount of Munhall-Stainless' revenues and operating loss included in the consolidated statements of operations for the year ended December 31, 2017 was $25,766,689 and $245,408 , respectively. On March 1, 2017, pursuant to the terms and conditions of the MUSA asset purchase agreement, the Company entered into a lease agreement to lease manufacturing and warehouse space at MUSA's Munhall, PA facility for $33,333 per month for the initial lease term of 15 months . In February 2018, the lease was amended to extend the term of the lease for the period beginning June 1, 2018 and ending May 31, 2023 and includes escalating rent payments. The lease met the operating lease requirements and was accounted for as such in 2017. As part of the MUSA-Galvanized acquisition that occurred on July 1, 2018, the Company amended and restated the Master Lease, effective June 29, 2018, pursuant to which the Company leased the Munhall, PA facility, purchased by Store Funding from MUSA for the remainder of the initial term of 20 years set forth in the Master Lease (see Note 12).

Dispositions and Closures

Dispositions and Closures	12 Months Ended
	Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Dispositions and Closures	Dispositions and Closures Associated with the closure of Bristol Fab in 2014, Bristol Fab's collective bargaining agreement with the Union expired and the Company was legally obligated to pay a withdrawal liability to the Union's pension fund of approximately $1,904,628 . This obligation was payable over 26 months ending October 1, 2016 with an interest rate of 4.51 percent . During 2016, the Company successfully completed the items and processes identified when the one-time closing charges were developed. A charge of $99,334 and $1,251,058 , net of tax respectively, was recorded as discontinued operations during 2016 and 2015 for a legal claim filed against Synalloy Fabrication. The matter was settled during 2016 and the settlement was paid in full by September 2016. As such, the facility closing reserve was zero as of December 31, 2016. Bristol Fab was reported as a part of the Metals Segment. The Company's results from discontinued operations are summarized below: 2016 Net sales $ — Loss before income taxes $ (150,334 ) Benefit from income taxes (51,000 ) Net loss from discontinued operations $ (99,334 )

Payment of Dividends

Payment of Dividends	12 Months Ended
	Dec. 31, 2018
Payments of Dividends [Abstract]
Payment of Dividends	Payment of Dividends At the end of each fiscal year the Board reviews the financial performance and capital needed to support future growth to determine the amount of cash dividend, if any, which is appropriate. In 2018, the Company paid a $0.25 cash dividend on December 12, 2018 for a total of $2,250,537 . In 2017 , the Company paid a $0.13 cash dividend totaling $1,148,513 . In 2016 , no dividends were declared or paid by the Company. At the Market Offering On August 9, 2018, the Company entered into an Equity Distribution Agreement pursuant to which the Company had the ability to issue and sell, from time to time, shares of the Company’s common stock (the "Shares"), par value $1.00 per share, with aggregate gross sales proceeds of up to $10 million , through an “at-the-market” equity offering program under which BB&T Capital Markets, a division of BB&T Securities, LLC and Ladenburg Thalmann & Co. Inc. (the "Agents") were sales agents (the “ATM Program”). In 2018, the Company issued and sold 44,378 shares in connection with the ATM Program, with total net proceeds of $982,519 . The Agents received $20,470 in commission on the sales. On November 16, 2018, the Company terminated the ATM Program. The Company has not sold any shares under the ATM Offering since September 30, 2018, and will no longer offer any shares under this program.

At the Market Offering

At the Market Offering	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
At the Market Offering	Payment of Dividends At the end of each fiscal year the Board reviews the financial performance and capital needed to support future growth to determine the amount of cash dividend, if any, which is appropriate. In 2018, the Company paid a $0.25 cash dividend on December 12, 2018 for a total of $2,250,537 . In 2017 , the Company paid a $0.13 cash dividend totaling $1,148,513 . In 2016 , no dividends were declared or paid by the Company. At the Market Offering On August 9, 2018, the Company entered into an Equity Distribution Agreement pursuant to which the Company had the ability to issue and sell, from time to time, shares of the Company’s common stock (the "Shares"), par value $1.00 per share, with aggregate gross sales proceeds of up to $10 million , through an “at-the-market” equity offering program under which BB&T Capital Markets, a division of BB&T Securities, LLC and Ladenburg Thalmann & Co. Inc. (the "Agents") were sales agents (the “ATM Program”). In 2018, the Company issued and sold 44,378 shares in connection with the ATM Program, with total net proceeds of $982,519 . The Agents received $20,470 in commission on the sales. On November 16, 2018, the Company terminated the ATM Program. The Company has not sold any shares under the ATM Offering since September 30, 2018, and will no longer offer any shares under this program.

Revenues

Revenues	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Adoption of ASC Topic 606, "Revenue from Contracts with Customers" On January 1, 2018, the Company adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under Topic 605. The Company operates as a manufacturer of various products, and revenue is comprised of short-term contracts with point-in-time performance obligations. As a result, the Company did not identify any differences in its recognition of revenue between Topic 606 and Topic 605. Accordingly, there was no adjustment required to opening retained earnings for the cumulative impact of adopting Topic 606 and no impact to revenues for the year-ended December 31, 2018 as a result of applying Topic 606. Revenue Recognition Revenues are recognized when control of the promised goods or services is transferred to our customers upon shipment, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The following table presents the Company's revenues, disaggregated by product group. Substantially all of the Company's revenues are derived from contracts with customers where performance obligations are satisfied at a point-in-time. Twelve Months Ended Dec 31, 2018 Dec 31, 2017 Storage tank and vessel $ 31,653,832 $ 27,599,731 Seamless carbon steel pipe and tube 32,473,950 25,103,641 Stainless steel pipe 146,237,630 100,253,823 Galvanized pipe 11,876,733 — Specialty chemicals 58,599,274 48,190,487 Total revenues $ 280,841,419 $ 201,147,682 Arrangements with Multiple Performance Obligations Our contracts with customers may include multiple performance obligations. For such arrangements, revenue for each performance obligation is based on its stand-alone selling price and revenue is recognized as each performance obligation is satisfied. The Company generally determines stand-alone selling prices based on the prices charged to customers using the adjusted market assessment approach or expected cost plus margin. Deferred Revenues Deferred revenues are recorded when cash payments are received in advance of satisfying the performance obligation, including amounts which are refundable. The deferred revenue balance decreased $7,356 during 2018 to $177,518 as of December 31, 2018 due to receiving $2,597,792 in advance of satisfying our performance obligations during the period, offset by $2,605,148 of revenue that was recognized during the period after satisfying the performance obligations that were included in the beginning deferred revenue balance or received during the current period. Deferred revenues are included in "Accrued expenses" on the accompanying Consolidated Balance Sheets. Our payment terms vary by the financial strength or location of our customer and the products offered. The length of time between invoicing and when payment is due is not significant. For certain customers, payment is required before the products or services are delivered to the customer. Practical Expedients and Election When shipping and handling activities are performed after a customer obtains control of goods, the Company reflects shipping and handling activities as part of satisfying the obligation of providing goods to the customer. In some instances, the Company withholds various states' sales taxes upon shipments into those states. Accordingly, management makes an accounting policy election to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are imposed on and concurrent with a specific revenue-producing transaction and collected from a customer. The Company expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within selling, general, and administrative expenses. The Company does not disclose the value of unsatisfied performance obligations since contracts are expected to be completed within one year.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 1, 2019, Synalloy Corporation’s wholly-owned subsidiary, ASTI, completed its purchase of substantially all of American Stainless' assets and operations in Statesville and Troutman, North Carolina. The purchase price for the all-cash acquisition was approximately $22,736,854 , subject to a post-closing working capital adjustment. American Stainless will also receive quarterly earn-out payments for a period of three years following closing. Pursuant to the asset purchase agreement between ASTI and American Stainless, earn-out payments will equate to six and one-half percent ( 6.5 percent ) of ASTI’s revenue over the three -year earn-out period. Synalloy funded the acquisition with a new five -year $20,000,000 term note and a draw against its recently increased $100,000,000 asset based line of credit, both with Synalloy’s current lender. Proforma information related to this acquisition is not included in the notes to the consolidated financial statements because the initial accounting for the business combination was not complete at the time the financial statements were issued. On January 1, 2019, Synalloy Store Funding amended and restated the Master Lease, pursuant to which Synalloy will lease the properties purchased by Store from American Stainless on January 1, 2019, for the remainder of the initial term of 20 years set forth in the Master Lease, with two renewal options of 10 years each. First year rent expense will be $430,000 . The lease includes a rent escalator equal to the lesser of 1.25 times the percentage increase in the Consumer Price Index since the previous increase or two percent . Synalloy will sublease both properties to ASTI. On February 21, 2019, the Board of Directors authorized a stock repurchase program for up to 850,000 shares of its outstanding common stock over the next twenty-four months . The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending on market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be returned to the status of authorized, but unissued shares of common stock or held in treasury. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted.

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II Valuation and Qualifying Accounts	Schedule II Valuation and Qualifying Accounts Column A Column B Column C Column D Column E Description Balance at Beginning of Period Charged to (Reduction of) Cost and Expenses Deductions Balance at End of Period Year ended December 31, 2018 Deducted from asset account: Allowance for doubtful accounts $ 35,000 $ 240,000 $ (106,000 ) $ 169,000 Inventory reserves $ 697,000 $ 1,828,000 $ (1,849,000 ) $ 676,000 Year ended December 31, 2017 Deducted from asset account: Allowance for doubtful accounts $ 82,000 $ 202,000 $ (249,000 ) $ 35,000 Inventory reserves $ 966,000 $ 1,237,000 $ (1,506,000 ) $ 697,000 Year ended December 31, 2016 Deducted from asset account: Allowance for doubtful accounts $ 247,000 $ (45,000 ) $ (120,000 ) $ 82,000 Inventory reserves $ 682,000 $ 984,000 $ (700,000 ) $ 966,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. The Metals Segment is comprised of three subsidiaries: Synalloy Metals, Inc. which owns 100 percent of BRISMET, located in Bristol, Tennessee and Munhall, Pennsylvania; Palmer, located in Andrews, Texas and Specialty, located in Mineral Ridge, Ohio and Houston, Texas. The Specialty Chemicals Segment consists of two subsidiaries: MS&C which owns 100 percent of MC, located in Cleveland, Tennessee and CRI Tolling, located in Fountain Inn, South Carolina. All significant intercompany transactions have been eliminated.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
Accounts Receivable	Accounts Receivable Accounts receivable from the sale of products are recorded at net realizable value and the Company generally grants credit to customers on an unsecured basis. Substantially all of the Company's accounts receivable are due from companies located throughout the United States. The Company provides an allowance for doubtful accounts for projected uncollectable amounts. The allowance is based upon a review of outstanding receivables, historical collection information and existing economic conditions. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. Receivables are generally due within 30 to 60 days. Delinquent receivables are written off based on individual credit evaluations and specific circumstances of the customer.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined by either specific identification or weighted average methods. Inventory cost is adjusted when its recorded cost is below net realizable value. At the end of each quarter, all facilities review recent sales reports to identify sales price trends that would indicate products or product lines that are being sold below cost. This would indicate that an adjustment would be required. In addition, the Company establishes inventory reserves for: • Estimated obsolete or unmarketable inventory. The Company identified inventory items with no sales activity for finished goods or no usage for raw materials for a certain period of time. For those inventory items not currently being marketed and unable to be sold, a reserve was established for 100 percent of the inventory cost less any estimated scrap proceeds. The Company reserved $316,903 and $411,157 at December 31, 2018 and December 31, 2017 , respectively. • Estimated quantity losses. The Company performs an annual physical count of inventory during the fourth quarter each year. For those facilities that complete their physical inventory counts before the end of December, a reserve is established for the potential quantity losses that could occur subsequent to their physical inventory. This reserve is based upon the most recent physical inventory results. At December 31, 2018 and December 31, 2017 , the Company had $359,505 and $285,627 , respectively, reserved for physical inventory quantity losses.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is provided on the straight-line method over the estimated useful life of the assets. Leasehold improvements are depreciated over the shorter of their useful lives or the remaining non-cancellable lease term, buildings are depreciated over a range of ten years to 40 years , and machinery, fixtures and equipment are depreciated over a range of three years to 20 years . The costs of software licenses are amortized over five years using the straight-line method. The Company continually reviews the recoverability of the carrying value of long-lived assets. The Company also reviews long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of such assets may not be recoverable. When the future undiscounted cash flows of the operation to which the assets relate do not exceed the carrying value of the asset, the assets are written down to fair value.
Business Combinations	Business Combinations Acquisitions are accounted for using the acquisition method of accounting for business combinations. Under this method, the total consideration transferred to consummate the acquisition is allocated to the identifiable tangible and intangible assets acquired and liabilities assumed based on their respective fair values as of the closing date of the acquisition. The acquisition method of accounting requires extensive use of estimates and judgments to allocate the consideration transferred to the identifiable tangible and intangible assets acquired, if any, and liabilities assumed.
Goodwill, Intangible Assets and Deferred Charges	Goodwill, Intangible Assets and Deferred Charges Goodwill, arising from the excess of purchase price over fair value of net assets of businesses acquired, is not amortized but is reviewed annually, at the reporting unit level, in the fourth quarter for impairment and whenever events or circumstances indicate that the carrying value may not be recoverable. No goodwill impairment was identified as a result of the testing procedures performed for the years ended December 31, 2018 and December 31, 2017 . Intangible assets represent the fair value of intellectual, non-physical assets resulting from business acquisitions. Deferred charges represent other intangible assets and debt issuance costs. Intangible assets are amortized over their estimated useful lives using either an accelerated or straight-line method. Deferred charges are amortized over their estimated useful lives using the straight-line method. Deferred charges are amortized over a period ranging from three to ten years and intangible assets are amortized over a period ranging from eight to 15 years. The weighted average amortization period for the customer relationships is approximately eleven years.
Earn-Out Liability	Earn-Out Liability In connection with the MUSA-Stainless acquisition on February 28, 2017, the Company is required to make contingent earn-out payments to the prior owners based on actual sales levels of stainless steel pipe and tube (outside diameter of ten inches or less). The Company determined the fair value of the earn-out liability on the acquisition date using a Monte Carlo simulation model. Changes to the fair value of the earn-out liability are determined each quarter-end and charged to income or expense in the “Earn-Out Adjustments” line item in the Consolidated Statements of Operations and Comprehensive Income. In connection with the MUSA-Galvanized acquisition on July 1, 2018, the Company is required to make quarterly earn-out payments for a period of four years following closing, based on actual sales levels of galvanized pipe and tube. The fair value of the contingent consideration was estimated by applying the probability-weighted expected return method using management's estimates of pounds to be shipped and future price per unit. Changes to the fair value of the earn-out liability are determined each quarter-end and charged to income or expense in the “Earn-Out Adjustments” line item in the Consolidated Statements of Operations and Comprehensive Income.
Revenue Recognition	Revenue Recognition Revenues are recognized when control of the promised goods or services is transferred to our customers upon shipment, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Substantially all of the Company's revenues are derived from contracts with customers where performance obligations are satisfied at a point-in-time. Our contracts with customers may include multiple performance obligations. For such arrangements, revenue for each performance obligation is based on its standalone selling price and revenue is recognized as each performance obligation is satisfied. The Company generally determines standalone selling prices based on the prices charged to customers using the adjusted market assessment approach or expected cost plus margin. Deferred revenues are recorded when cash payments are received in advance of satisfying the performance obligation, including amounts which are refundable.
Shipping Costs	Shipping Costs Shipping costs of approximately $9,846,616 , $7,502,945 and $4,488,041 in 2018 , 2017 and 2016 , respectively, are recorded in cost of goods sold.
Research and Development Expenses	Research and Development Expenses The Company incurred research and development expense of approximately $548,464 , $556,181 and $603,067 in 2018 , 2017 and 2016 , respectively.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing accounts and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized. Additionally, the Company maintains reserves for uncertain tax provisions.
Earnings Per Share of Common Stock	Earnings Per Share of Common Stock Earnings per share of common stock are computed based on the weighted average number of basic and diluted shares outstanding during each period.
Fair Market Value	Fair Market Value The Company makes estimates of fair value in accounting for certain transactions, in testing and measuring impairment and in providing disclosures of fair value in its consolidated financial statements. The Company determines the fair values of its financial instruments for disclosure purposes by maximizing the use of observable inputs and minimizing the use of unobservable inputs when measuring fair value. Fair value disclosures for assets and liabilities are grouped in three levels. The levels prioritize the inputs used to measure the fair value of the assets or liabilities. These levels are: Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 - Inputs other than quoted prices that are observable for assets and liabilities, either directly or indirectly. These inputs include quoted prices for similar assets or liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are less active. Level 3 - Unobservable inputs that are supported by little or no market activity for assets or liabilities and includes certain pricing models, discounted cash flow methodologies and similar techniques.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements requires management to make estimates and assumptions, primarily for testing goodwill for impairment, determining balances for the earn-out liabilities, estimating fair value of identifiable assets acquired and liabilities assumed as a result of business acquisitions and for establishing reserves on accounts receivable, inventories and environmental issues, that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash deposits and trade accounts receivable.
Recent Accounting Pronouncements	Recent accounting pronouncements Recently Issued Accounting Standards - Adopted In May 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers (Topic 606) ". Topic 606 supersedes the revenue recognition requirements in Topic 605 “Revenue Recognition” (Topic 605), and requires entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted Topic 606 as of January 1, 2018 using the modified retrospective transition method. The adoption of this Topic did not have an effect on the Company's consolidated financial statements. See Note 22 for further details. In January 2016, the FASB issued ASU No. 2016-01, " Financial Instruments (Topic 825)", to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The standard requires equity investments (except for those under the equity method of accounting) to be measured at fair value, with changes in fair value recognized in net income. The amendments in the update supersede the guidance to classify equity securities with readily determinable fair values into different categories, and require equity securities to be measured at fair value with changes recognized in net income as opposed to comprehensive income. The Company adopted ASU 2016-01 effective January 1, 2018 and the effects of this standard are included in the accompanying consolidated financial statements. The Company applied the standard by means of a cumulative effective adjustment to the balance sheet as of January 1, 2018, which resulted in a reclassification of $10,864 from Accumulated Other Comprehensive Loss to Retained Earnings. The adoption of this standard also resulted in a $2,573,000 mark-to-market valuation loss on investments in equity securities recognized in net income in 2018, which would have previously been recorded to Comprehensive Income. In January 2017, the FASB issued ASU No. 2017-01 “ Business Combinations (Topic 805): Clarifying the Definition of a Business. ” ASU 2017-01 provides guidance to evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. If substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single asset or a group of similar assets, the assets acquired (or disposed of) are not considered a business. The Company adopted ASU 2017-01 as of January 1, 2018 on a prospective basis. The adoption of this Topic did not have an effect on the Company's consolidated financial statements as of December 31, 2018. In May 2017, the FASB issued ASU 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting," which amends the scope of modification accounting for share-based payment arrangements, provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under ASC 718. The Company adopted ASU 2017-09 as of January 1, 2018 on a prospective basis. The adoption of this Topic did not have an effect on the Company's consolidated financial statements as of December 31, 2018. Recently Issued Accounting Standards - Not Yet Adopted In February 2016, the FASB issued ASU No. 2016-02 "Leases (Topic 842)", as amended, which generally requires lessees to recognize operating and financing lease liabilities and corresponding right-of-use assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of cash flows arising from leasing arrangements. We will adopt the new standard effective January 1, 2019 on a modified retrospective basis and will not restate comparative periods. We will elect the package of practical expedients permitted under the transition guidance, which allows us to carryforward our historical lease classification, our assessment on whether a contract is or contains a lease, and our initial direct costs for any leases that exist prior to adoption of the new standard. We did not elect the hindsight practical expedient to determine the reasonably certain lease term for existing leases. We also elected to combine lease and non-lease components and elected the short-term lease recognition exemption for all leases that qualify. On adoption, we currently expect to recognize additional operating liabilities ranging from $32,000,000 to $36,000,000 with corresponding right-of-use assets of a materially similar amount based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. The Company will also record a cumulative-effect adjustment to equity totaling approximately $6,000,000 related to the derecognition of the existing deferred gain for a sale leaseback transaction that occurred in 2016 (see note 12 to the Consolidated Financial Statements). We do not expect the new standard to have a material impact on the consolidated statement of operations. In August 2018, the FASB issued ASU No. 2018-13 " Fair Value Measurement (Topic 820)" . The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the impact of adopting the updated provisions.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Amortization Expense for Finite-lived Intangible Assets	Estimated amortization expense for the next five fiscal years based on existing intangible assets, excluding deferred charges is as follows: 2019 2,297,570 2020 2,129,528 2021 2,021,486 2022 1,790,631 2023 328,416 Thereafter 1,128,754

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Summary of Changes in Fair Value of Company's Earn-Out Liability	The following table presents a summary of changes in fair value of the Company's Level 3 liabilities measured on a recurring basis for 2018 : MUSA Earn-Out Liabilities Balance at December 31, 2016 $ — Fair value of the earn-out liability associated with the MUSA-Stainless acquisition 4,663,783 Earn-out payments to MUSA (518,456 ) Changes in fair value during the period 688,523 Balance at December 31, 2017 $ 4,833,850 Fair value of the earn-out liability associated with the MUSA-Galvanized acquisition 3,800,298 Earn-out payments to MUSA (2,455,446 ) Changes in fair value during the period 1,430,682 Balance at December 31, 2018 $ 7,609,384

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment consist of the following: 2018 2017 Land $ 62,916 $ 62,916 Leasehold improvements 1,162,942 544,186 Buildings 412,301 412,301 Machinery, fixtures and equipment 91,514,620 81,229,311 Machinery and equipment under capital lease 1,416,114 401,077 Construction-in-progress 3,643,795 2,881,654 98,212,688 85,531,445 Less accumulated depreciation 57,288,233 50,451,436 Property, plant and equipment, net $ 40,924,455 $ 35,080,009

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by segment for the year ended December 31, 2018 and December 31, 2017 are as follows: Specialty Chemicals Segment Metals Segment Total Balance at December 31, 2016 $ 1,354,730 $ — $ 1,354,730 MUSA-Stainless Acquisition — 4,648,795 4,648,795 Balance at December 31, 2017 $ 1,354,730 $ 4,648,795 $ 6,003,525 MUSA-Galvanized Acquisition — 3,796,467 3,796,467 Balance at December 31, 2018 $ 1,354,730 $ 8,445,262 $ 9,799,992

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-term Debt	2018 2017 $100,000,000 Revolving line of credit, due December 20, 2021 $ 76,405,458 $ 25,913,557

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consist of the following: 2018 2017 Salaries, wages, and commissions 5,208,495 3,219,190 Taxes, other than income taxes 852,116 921,476 Current portion of earn-out liability 2,906,822 1,663,751 Advances from customers 177,518 184,874 Insurance 321,000 372,000 Professional fees 256,296 343,706 Warranty reserve 38,020 37,771 Benefit plans 265,605 208,717 Insurance financing liability 347,440 224,961 Current portion, capital lease obligation 267,028 76,198 Customer rebate liability 701,361 439,912 Current portion, environmental reserves — 549,000 Current portion, deferred gain sale-leaseback 334,273 334,273 Other accrued items 487,712 417,625 Total accrued expenses $ 12,163,686 $ 8,993,454

Stock Options, Stock Grants a_2

Stock Options, Stock Grants and New Stock Issues (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Activity in the Company’s Stock Option Plans	A summary of activity in the Company's stock option plans is as follows: Weighted Average Exercise Price Options Outstanding Weighted Average Contractual Term (in years) Intrinsic Value of Options Options Available At January 01, 2016 $ 12.79 173,985 6.4 $ — 152,028 Expired $ 16.01 (937 ) 937 At December 31, 2016 $ 12.77 173,048 5.4 $ — 152,965 Exercised $ 11.55 (25,632 ) $ 78,818 Expired $ 15.26 (1,905 ) 1,905 At December 31, 2017 $ 12.96 145,511 4.6 $ 156,445 154,870 Exercised $ 12.09 (85,440 ) $ 842,742 Expired $ 16.01 (975 ) 975 At December 31, 2018 $ 14.16 59,096 4.8 $ 143,737 155,845 Exercisable options $ 13.82 49,127 4.5 $ 136,123 Options expected to vest: Grant Date Fair Value At December 31, 2016 $ 14.72 43,286 7.1 $ 6.24 Vested $ 14.35 (17,574 ) $ 5.96 Forfeited options $ 15.38 (62 ) At December 31, 2017 $ 14.72 25,650 6.5 $ 6.41 Vested $ 14.78 (15,380 ) $ 6.38 Forfeited options $ 16.01 (301 ) At December 31, 2018 $ 15.83 9,969 6.0 $ 6.44
Stock Options by Exercise Price Range	The following table summarizes information about stock options outstanding at December 31, 2018 : Range of Exercise Prices Outstanding Stock Options Exercisable Stock Options Shares Weighted Average Shares Weighted Average Exercise Price Exercise Price Remaining Contractual Life in Years $ 11.35 13,402 $ 11.35 3.10 13,402 $ 11.35 $ 13.70 15,933 $ 13.70 4.10 15,933 $ 13.70 $ 14.76 8,109 $ 14.76 5.14 6,643 $ 14.76 $ 16.01 21,652 $ 16.01 6.11 13,149 $ 16.01 59,096 49,127
Summary of Stock Awards Plan Activity	A summary of plan activity for the 2005 and 2015 Stock Awards Plans is as follows: Shares Weighted Average Grant Date Fair Value Outstanding at December 31, 2015 51,440 $ 15.57 Granted February 19, 2016 50,062 $ 7.51 Granted May 5, 2016 42,193 $ 8.05 Vested (21,133 ) $ 13.12 Forfeited (1,260 ) $ 17.73 Outstanding at December 31, 2016 121,302 $ 10.03 Granted February 8, 2017 44,687 $ 12.30 Vested (34,322 ) $ 10.45 Outstanding at December 31, 2017 131,667 $ 10.69 Granted February 7, 2018 65,527 $ 12.47 Vested (51,775 ) $ 10.84 Forfeited (3,245 ) $ 10.96 Outstanding at December 31, 2018 142,174 $ 11.45

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Significant Components Deferred Tax Liabilities	Significant components of the Company's deferred tax liabilities and assets are as follows at the respective year ends: 2018 2017 Deferred income tax assets: Sale leaseback deferred gain $ 1,310,850 $ 1,382,270 Inventory valuation reserves 174,377 209,745 Allowance for doubtful accounts 35,955 7,944 Inventory capitalization 1,500,710 943,203 Environmental reserves — 124,029 Warranty accrual 8,084 8,132 Deferred compensation 28,090 36,617 Accrued bonus 910,824 483,238 Accrued expenses 22,957 24,749 State net operating loss carryforwards 1,934,071 2,069,258 Equity security mark to market 622,189 3,248 Straight line lease 230,841 123,570 Other 507,997 352,520 Total deferred income tax assets 7,286,945 5,768,523 Valuation allowance (1,765,993 ) (2,087,860 ) Total net deferred income tax assets 5,520,952 3,680,663 Deferred income tax liabilities: Tax over book depreciation and amortization 5,120,533 3,971,816 Prepaid expenses 377,498 174,322 Interest rate swap 103,708 87,016 Other 172,201 83,419 Total deferred income tax liabilities 5,773,940 4,316,573 Deferred income taxes $ (252,988 ) $ (635,910 )
Schedule of Components of Provision for Income Taxes	Significant components of the provision for income taxes from continuing operations are as follows: 2018 2017 2016 Current: Federal $ 3,468,673 $ 1,067,490 $ (980,495 ) State 290,459 106,832 190,230 Total current 3,759,132 1,174,322 (790,265 ) Deferred: Federal (107,879 ) (1,043,384 ) (1,329,302 ) State (275,043 ) 6,201 (78,433 ) Total deferred (382,922 ) (1,037,183 ) (1,407,735 ) Total $ 3,376,210 $ 137,139 $ (2,198,000 )
Reconciliation of Income Taxes Computed at U.S. Rate to Income Tax Expense	The reconciliation of income tax computed at the U. S. federal statutory tax rates to income tax expense is: 2018 2017 2016 Amount % Amount % Amount % Tax at U.S. statutory rates $ 3,459,464 21.0 % $ 502,690 34.0 % $ (3,125,382 ) 34.0 % State income taxes, net of federal tax benefit 268,924 1.6 % 65,546 4.4 % (48,842 ) 0.5 % State valuation allowance (314,505 ) (1.9 )% 8,498 0.6 % 95,961 (1.0 )% Life insurance cash surrender value — — % — — % 503,700 (5.5 )% Manufacturing exemption — — % (116,980 ) (7.9 )% — — % Stock option compensation (39,401 ) (0.2 )% 226 — % 45,929 (0.5 )% Rate change effects — — % (380,961 ) (25.8 )% — — % Other, net 1,728 — % 58,120 4.0 % 330,634 (3.6 )% Total $ 3,376,210 20.5 % $ 137,139 9.3 % $ (2,198,000 ) 23.9 %

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Schedule of Future Minimum Lease Payments Under Operating Leases	The amount of future minimum lease payments under operating leases are as follows: 2019 3,207,053 2020 3,243,694 2021 3,238,745 2022 3,224,810 2023 3,102,815 Thereafter 45,337,403
Schedule of Future Minimum Lease Payments Under Capital Leases	Future minimum commitments for capital leases are as follows: 2019 $ 354,299 2020 357,733 2021 346,570 2022 18,407 2023 — Total minimum lease payments 1,077,009 Less imputed interest costs 164,826 Present value of net minimum lease payments $ 912,183

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per share from continuing operations	The following table sets forth the computation of basic and diluted earnings per share: 2018 2017 2016 Numerator: Net income (loss) from continuing operations $ 13,097,429 $ 1,341,362 $ (6,993,967 ) Net loss from discontinued operations, net of income taxes $ — $ — $ (99,334 ) Denominator: Denominator for basic earnings per share - weighted average shares 8,806,079 8,704,730 8,649,745 Effect of dilutive securities: Employee stock options and stock grants 71,530 22,757 — Denominator for diluted earnings per share - weighted average shares 8,877,609 8,727,487 8,649,745 Net earnings (loss) per share from continuing operations: Basic $ 1.49 $ 0.15 $ (0.81 ) Diluted $ 1.48 $ 0.15 $ (0.81 ) Net loss per share from discontinued operations: Basic $ — $ — $ (0.01 ) Diluted $ — $ — $ (0.01 )

Industry Segments (Tables)

Industry Segments (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Information	All values are for continuing operations only. 2018 2017 2016 Net sales Metals Segment $ 222,242,145 $ 152,957,195 $ 90,214,537 Specialty Chemicals Segment 58,599,274 48,190,487 48,351,245 $ 280,841,419 $ 201,147,682 $ 138,565,782 Operating income (loss) Metals Segment $ 27,543,907 $ 5,424,624 $ (4,820,374 ) Gain (loss) on sale-leaseback 239,604 239,604 (2,166,136 ) Total Metals Segment 27,783,511 5,664,228 (6,986,510 ) Specialty Chemicals Segment 3,879,405 4,295,576 4,887,143 Gain (loss) on sale-leaseback 94,669 94,669 (205,642 ) Total Specialty Chemicals Segment 3,974,074 4,390,245 4,681,501 31,757,585 10,054,473 (2,305,009 ) Unallocated corporate expenses 7,877,847 6,513,839 5,835,162 Earn-out adjustments 1,430,682 688,523 — Acquisition related costs 1,211,797 794,983 106,227 Operating income (loss) 21,237,259 2,057,128 (8,246,398 ) Interest expense 2,210,506 985,366 932,572 Change in fair value of interest rate swap (19,484 ) (96,696 ) 12,997 Other income, net 2,572,598 (310,043 ) — Income (loss) before income taxes $ 16,473,639 $ 1,478,501 $ (9,191,967 ) Identifiable assets Metals Segment $ 192,195,733 $ 130,456,857 Specialty Chemicals Segment 28,174,675 25,394,078 Corporate 8,028,438 4,023,215 $ 228,398,846 $ 159,874,150 Depreciation and amortization Metals Segment $ 7,197,814 $ 6,280,681 $ 5,132,506 Specialty Chemicals Segment 1,427,629 1,302,579 1,449,437 Corporate 149,734 154,552 113,047 $ 8,775,177 $ 7,737,812 $ 6,694,990 Capital expenditures Metals Segment $ 5,969,216 $ 3,405,552 $ 2,198,535 Specialty Chemicals Segment 1,297,762 1,649,967 475,703 Corporate 87,759 223,089 370,173 $ 7,354,737 $ 5,278,608 $ 3,044,411 Sales by product group Specialty chemicals $ 58,599,274 $ 48,190,487 $ 48,351,245 Stainless steel pipe 146,237,630 100,253,823 56,065,642 Seamless carbon steel pipe and tube 32,473,950 25,103,641 14,913,133 Liquid storage tanks and separation equipment 31,653,832 27,599,731 19,235,762 Galvanized pipe and tube 11,876,733 — — $ 280,841,419 $ 201,147,682 $ 138,565,782 Geographic sales United States $ 273,244,175 $ 196,172,279 $ 132,313,157 Elsewhere 7,597,244 4,975,403 6,252,625 $ 280,841,419 $ 201,147,682 $ 138,565,782

Quarterly Results (Unaudited) (

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Summary of Quarterly Financial Information	The following is a summary of quarterly operations for 2018 and 2017 : First Quarter Second Quarter Third Quarter Fourth Quarter 2018 Net sales $ 58,480,602 $ 71,893,763 $ 77,792,878 $ 72,674,176 Gross profit 11,233,418 15,716,322 14,028,366 10,259,233 Net income 3,835,163 3,677,272 5,035,558 549,436 Per common share Basic 0.44 0.42 0.57 0.06 Diluted 0.44 0.41 0.56 0.06 2017 Net sales $ 42,203,579 $ 51,511,045 $ 54,595,924 $ 52,837,134 Gross profit 7,403,579 8,177,927 4,836,620 7,662,824 Net income (loss) 701,542 829,879 (1,206,752 ) 1,016,693 Other comprehensive income (loss) — 366,346 (366,346 ) (10,864 ) Comprehensive income (loss) — 1,196,225 (1,573,098 ) 1,005,829 Per common share Basic 0.08 0.10 (0.14 ) 0.11 Diluted 0.08 0.10 (0.14 ) 0.11

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2018
Business Combinations [Abstract]
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed	The following table shows the initial estimate of value and revisions made during 2017: Initial estimate Revisions Final Inventories $ 5,434,000 $ — $ 5,434,000 Other current assets - production and maintenance supplies 1,548,701 — 1,548,701 Equipment 7,576,733 — 7,576,733 Customer list intangible 992,000 — 992,000 Goodwill 3,589,342 1,059,453 4,648,795 Earn-out liability (3,604,330 ) (1,059,453 ) (4,663,783 ) Other liabilities assumed (582,933 ) — (582,933 ) $ 14,953,513 $ — $ 14,953,513 The following table shows the initial estimate of value and revisions made during 2018: Initial estimate Revisions Final Inventories $ 2,746,000 $ — 2,746,000 Accounts Receivable 2,187,141 — 2,187,141 Other current assets - production and maintenance supplies 746,729 — 746,729 Property, plant and equipment 4,883,847 — 4,883,847 Customer list intangible 1,424,000 (251,000 ) 1,173,000 Goodwill 3,545,467 251,000 3,796,467 Earn-out Liability (3,800,298 ) — (3,800,298 ) Accounts payable (1,051,239 ) — (1,051,239 ) Other liabilities (303,366 ) — (303,366 ) $ 10,378,281 $ — $ 10,378,281
Schedule of Unaudited Pro Forma Financial Information	MUSA-Galvanized's results of operations since acquisition are reflected in the Company's consolidated statements of operations as follows: 2018 Net sales $ 11,876,733 Income before income taxes 64,971 The unaudited pro-forma financial information is for information purposes only and is not necessarily indicative of what the results would have been had the acquisition been completed on the date indicated above. Pro-Forma (Unaudited) 2018 2017 Pro-forma net sales $ 292,793,331 $ 225,375,581 Pro-forma net income (loss) $ 11,920,277 $ 20,960 Earnings (loss) per share: Basic $ 1.35 n/a Diluted $ 1.34 n/a

Dispositions and Closures (Tabl

Dispositions and Closures (Tables)	12 Months Ended
	Dec. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Summary of Discontinued Operations	The Company's results from discontinued operations are summarized below: 2016 Net sales $ — Loss before income taxes $ (150,334 ) Benefit from income taxes (51,000 ) Net loss from discontinued operations $ (99,334 )

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue by Product Group	The following table presents the Company's revenues, disaggregated by product group. Substantially all of the Company's revenues are derived from contracts with customers where performance obligations are satisfied at a point-in-time. Twelve Months Ended Dec 31, 2018 Dec 31, 2017 Storage tank and vessel $ 31,653,832 $ 27,599,731 Seamless carbon steel pipe and tube 32,473,950 25,103,641 Stainless steel pipe 146,237,630 100,253,823 Galvanized pipe 11,876,733 — Specialty chemicals 58,599,274 48,190,487 Total revenues $ 280,841,419 $ 201,147,682

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details)	Feb. 28, 2017	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2018USD ($)subsidiariesreporting_unitsegments	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jan. 01, 2019USD ($)	Jan. 01, 2018USD ($)
Accounting Policies [Line Items]
Number of operating segments | segments						2
Number of reportable segments | segments						2
Goodwill impairment						$ 0	$ 0
Deferred charges and intangible assets		$ 21,837,351				23,247,498	21,837,351
Accumulated amortization on deferred charges		10,693,175				13,043,424	10,693,175
Amortization expense						2,363,277	2,443,117	$ 2,459,787
Shipping costs						9,846,616	7,502,945	4,488,041
Research and development expense						548,464	556,181	603,067
Increase in net loss from mark-to-market adjustment from loss on investments						2,572,703
Valuation loss on investments reclassified out of other comprehensive income		1,005,829	$ (1,573,098)	$ 1,196,225	$ 0	13,097,429	$ 1,330,498	$ (7,093,301)
Accounting Standards Update 2016-01
Accounting Policies [Line Items]
Cumulative adjustment										$ 0
Increase in net loss from mark-to-market adjustment from loss on investments						$ 2,573,000
Accounting Standards Update 2016-01 | Accumulated Other Comprehensive Income (Loss)
Accounting Policies [Line Items]
Cumulative adjustment										10,864
Accounting Standards Update 2016-01 | Retained Earnings
Accounting Policies [Line Items]
Cumulative adjustment										(10,864)
Accounting Standards Update 2016-02 | Retained Earnings
Accounting Policies [Line Items]
Cumulative adjustment										$ 6,000,000
Software Licenses
Accounting Policies [Line Items]
Useful life of property, plant and equipment						5 years
Customer List
Accounting Policies [Line Items]
Weighted average amortization period for intangible assets						11 years
Marcegalia USA, Inc. - Stainless | Customer List
Accounting Policies [Line Items]
Amortization period for intangible assets							15 years
Marcegalia USA, Inc. - Stainless | Earn-Out Payment
Accounting Policies [Line Items]
Contingent consideration earn-out period	4 years
Obsolescence Reserve
Accounting Policies [Line Items]
Inventory reserves		411,157				$ 316,903	$ 411,157
Physical Inventory Shrink Reserve
Accounting Policies [Line Items]
Inventory reserves		$ 285,627				$ 359,505	$ 285,627
Minimum
Accounting Policies [Line Items]
Accounts receivable, payment terms						30 days
Amortization period for intangible assets						8 years
Minimum | Accounting Standards Update 2016-02 | Scenario, Forecast
Accounting Policies [Line Items]
Right-of-use assets under operating leases									$ 32,000,000
Operating lease liabilities									32,000,000
Minimum | Land Improvement and Buildings
Accounting Policies [Line Items]
Useful life of property, plant and equipment						10 years
Minimum | Machinery, Fixtures and Equipment
Accounting Policies [Line Items]
Useful life of property, plant and equipment						3 years
Minimum | Deferred Charges
Accounting Policies [Line Items]
Amortization period for intangible assets						3 years
Maximum
Accounting Policies [Line Items]
Accounts receivable, payment terms						60 days
Amortization period for intangible assets						15 years
Maximum | Accounting Standards Update 2016-02 | Scenario, Forecast
Accounting Policies [Line Items]
Right-of-use assets under operating leases									36,000,000
Operating lease liabilities									$ 36,000,000
Maximum | Land Improvement and Buildings
Accounting Policies [Line Items]
Useful life of property, plant and equipment						40 years
Maximum | Machinery, Fixtures and Equipment
Accounting Policies [Line Items]
Useful life of property, plant and equipment						20 years
Maximum | Deferred Charges
Accounting Policies [Line Items]
Amortization period for intangible assets						10 years
Metals Segment
Accounting Policies [Line Items]
Number of reporting units | reporting_unit						3
Number of subsidiaries | subsidiaries						3
Metals Segment | Synalloy Metals, Inc.
Accounting Policies [Line Items]
Ownership percentage of subsidiary						100.00%
Specialty Chemicals Segment
Accounting Policies [Line Items]
Number of reporting units | reporting_unit						1
Number of subsidiaries | subsidiaries						2
Specialty Chemicals Segment | Manufacturers Soap and Chemical Company
Accounting Policies [Line Items]
Ownership percentage of subsidiary						100.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Amortization Expense of Finite Lived Intangible Assets (Details)	Dec. 31, 2018USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2019	$ 2,297,570
2020	2,129,528
2021	2,021,486
2022	1,790,631
2023	328,416
Thereafter	$ 1,128,754

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Narrative (Details)	12 Months Ended
	Dec. 31, 2018USD ($)financial_instrument	Dec. 31, 2017USD ($)lb$ / lb	Dec. 31, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loss on investment in equity securities	$ 2,572,703
Proceeds from available for sale securities	0	$ 4,141,564	$ 0
Realized gain from sale of securities	0	310,043	0
Unrealized gain reclassified out of AOCI into earnings, net of taxes	$ 0	355,482	$ 0
Derivative asset, number of instruments held | financial_instrument	1
Level 1 inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of equity securities	$ 2,935,000	537,233
Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term of derivative contract	3 months
Commodity Option | Level 2 inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset		$ 9,027
Notional quantities of contracts in place | lb		1,351,494
Commodity Option | Level 2 inputs | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative strike price (in usd per lb) | $ / lb		3.75
Commodity Option | Level 2 inputs | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative strike price (in usd per lb) | $ / lb		4.64
Term Loan | Palmer of Texas | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset, fair value, gross asset	$ 147,465	$ 127,981
Reclassification out of Accumulated Other Comprehensive Income
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized gain reclassified out of AOCI into earnings		555,979
Unrealized gain reclassified out of AOCI into earnings, net of taxes		$ 366,346

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Changes in Fair Value of Company's Earn-Out Liability (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Earn-out payments to MUSA	$ 2,260,984	$ 518,456	$ 0
Level 3 Inputs
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at December 31, 2017	4,833,850	0
Fair value of the earn-out liability associated with the MUSA-Galvanized acquisition	3,800,298	4,663,783
Earn-out payments to MUSA	(2,455,446)	(518,456)
Change in fair value during the period	(1,430,682)	(688,523)
Balance at December 31, 2018	$ 7,609,384	$ 4,833,850	$ 0

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 98,212,688	$ 85,531,445
Less accumulated depreciation	57,288,233	50,451,436
Property, plant and equipment, net	40,924,455	35,080,009
Depreciation expense	6,411,900	5,294,695	$ 4,235,203
Accumulated depreciation for assets acquired under capital leases	707,112	86,357
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	62,916	62,916
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	1,162,942	544,186
Buildings
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	412,301	412,301
Machinery, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	91,514,620	81,229,311
Machinery and equipment under capital lease
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	1,416,114	401,077
Construction-in-progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 3,643,795	$ 2,881,654

Goodwill (Details)

Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 6,003,525	$ 1,354,730
Acquisitions during period	3,796,467	4,648,795
Goodwill, end of period	9,799,992	6,003,525
Specialty Chemicals Segment
Goodwill [Roll Forward]
Goodwill, beginning of period	1,354,730	1,354,730
Acquisitions during period	0	0
Goodwill, end of period	1,354,730	1,354,730
Metals Segment
Goodwill [Roll Forward]
Goodwill, beginning of period	4,648,795	0
Acquisitions during period	3,796,467	4,648,795
Goodwill, end of period	$ 8,445,262	$ 4,648,795

Long-term Debt (Details)

Long-term Debt (Details)	Dec. 20, 2018USD ($)debt_installments	Jun. 29, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Oct. 30, 2017USD ($)	Aug. 31, 2016USD ($)
Revolving Line of Credit
Line of Credit Facility [Line Items]
Line of credit, average outstanding amount			$ 49,030,098	$ 27,895,901
Line of credit, weighted average interest rate			4.51%	3.09%
Interest payments			$ 1,725,150	$ 856,651	$ 826,478
ABL Line of Credit, Due February 28, 2019 | Revolving Line of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum borrowing capacity							$ 45,000,000
Stated interest rate				3.44%
ABL Line of Credit, Due October 30, 2020 | Revolving Line of Credit
Line of Credit Facility [Line Items]
Long-term debt outstanding			76,405,458	$ 25,913,557
Line of credit, maximum borrowing capacity	$ 100,000,000	$ 80,000,000	$ 93,860,450			$ 65,000,000
Line of credit, increase to limit		$ 15,000,000				$ 20,000,000
Stated interest rate			4.19%
Unused capacity fee on line of credit			0.15%
Line of credit, amount borrowed			$ 76,405,458
Line of credit, remaining availability			$ 17,454,992
ABL Line of Credit, Due October 30, 2020 | Revolving Line of Credit | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.65%	1.65%
Term Loan
Line of Credit Facility [Line Items]
Debt term	5 years
Principal amount of debt	$ 20,000,000
Repayments of debt, number of consecutive installments | debt_installments	60
Term Loan | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.90%

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accrued Expenses
Salaries, wages, and commissions	$ 5,208,495	$ 3,219,190
Taxes, other than income taxes	852,116	921,476
Current portion of earn-out liability	2,906,822	1,663,751
Advances from customers	177,518	184,874
Insurance	321,000	372,000
Professional fees	256,296	343,706
Warranty reserve	38,020	37,771
Benefit plans	265,605	208,717
Insurance financing liability	347,440	224,961
Current portion, capital lease obligation	267,028	76,198
Customer rebate liability	701,361	439,912
Current portion, environmental reserves	0	549,000
Current portion, deferred gain sale-leaseback	334,273	334,273
Other accrued items	487,712	417,625
Total accrued expenses	$ 12,163,686	$ 8,993,454

Environmental Compliance Costs

Environmental Compliance Costs (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Augusta Plant
Environmental Exit Cost [Line Items]
Environmental remediation reserves	$ 0	$ 474,000

Deferred Compensation (Details)

Deferred Compensation (Details) - Former Officers - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Minimum period of deferred compensation benefits	10 years
Minimum deferred compensation benefit age	65 years
Estimate of Fair Value
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Present value of vested future deferred compensation payments	$ 116,785	$ 159,080

Stock Options, Stock Grants a_3

Stock Options, Stock Grants and New Stock Issues - Summary of Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of year, weighted average exercise price (dollars per share)	$ 12.96	$ 12.77	$ 12.79
Exercised, weighted average exercise price (dollars per share)	12.09	11.55
Expired, weighted average exercise price (dollars per share)	16.01	15.26	16.01
Outstanding, end of year, weighted average exercise price (dollars per share)	14.16	$ 12.96	$ 12.77	$ 12.79
Exercisable, weighted average exercise price (dollars per share)	$ 13.82
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of year (shares)	145,511	173,048	173,985
Exercised (shares)	(85,440)	(25,632)
Expired (shares)	(975)	(1,905)	(937)
Outstanding, end of year (shares)	59,096	145,511	173,048	173,985
Exercisable (shares)	49,127
Options outstanding, weighted average contractual term	4 years 9 months 18 days	4 years 7 months 6 days	5 years 4 months 24 days	6 years 4 months 24 days
Options exercisable, weighted average contractual term	4 years 6 months
Options outstanding, intrinsic value	$ 143,737	$ 156,445	$ 0	$ 0
Options expired, intrinsic value	842,742	$ 78,818
Options exercisable, intrinsic value	$ 136,123
Options available (shares)	155,845	154,870	152,965	152,028
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Roll Forward]
Expected to vest, beginning of the year, weighted average exercise price (dollars per share)	$ 14.72	$ 14.72
Vested, weighted average exercise price (dollars per share)	14.78	14.35
Forfeited, weighted average exercise price (dollars per share)	16.01	15.38
Expected to vest, end of the year, weighted average exercise price (dollars per share)	$ 15.83	$ 14.72	$ 14.72
Expected to vest (shares)	25,650	43,286
Vested (shares)	(15,380)	(17,574)
Forfeited unvested options (shares)	(301)	(62)
Expected to vest (shares)	9,969	25,650	43,286
Options expected to vest, weighted average contractual term (years)	6 years	6 years 6 months	7 years 1 month 6 days
Options expected to vest, grant date fair value (dollars per share)	$ 6.44	$ 6.41	$ 6.24
Options expected to vest, vested, grant date fair value (dollars per share)	$ 6.38	$ 5.96

Stock Options, Stock Grants a_4

Stock Options, Stock Grants and New Stock Issues - Stock Options by Exercise Price Range (Details)	12 Months Ended
	Dec. 31, 2018$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of outstanding stock options (shares) | shares	59,096
Number of exercisable stock options (shares) | shares	49,127
$11.35
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices (dollars per share)	$ 11.35
Number of outstanding stock options (shares) | shares	13,402
Weighted average exercise price (dollars per share)	$ 11.35
Weighted average remaining contractual life in years	3 years 1 month 6 days
Number of exercisable stock options (shares) | shares	13,402
Exercisable stock options, weighted average exercise price (dollars per share)	$ 11.35
$13.70
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices (dollars per share)	$ 13.70
Number of outstanding stock options (shares) | shares	15,933
Weighted average exercise price (dollars per share)	$ 13.70
Weighted average remaining contractual life in years	4 years 1 month 6 days
Number of exercisable stock options (shares) | shares	15,933
Exercisable stock options, weighted average exercise price (dollars per share)	$ 13.70
$14.76
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices (dollars per share)	$ 14.76
Number of outstanding stock options (shares) | shares	8,109
Weighted average exercise price (dollars per share)	$ 14.76
Weighted average remaining contractual life in years	5 years 1 month 20 days
Number of exercisable stock options (shares) | shares	6,643
Exercisable stock options, weighted average exercise price (dollars per share)	$ 14.76
$16.01
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of exercise prices (dollars per share)	$ 16.01
Number of outstanding stock options (shares) | shares	21,652
Weighted average exercise price (dollars per share)	$ 16.01
Weighted average remaining contractual life in years	6 years 1 month 9 days
Number of exercisable stock options (shares) | shares	13,149
Exercisable stock options, weighted average exercise price (dollars per share)	$ 16.01

Stock Options, Stock Grants a_5

Stock Options, Stock Grants and New Stock Issues - Narrative (Details)	May 17, 2018USD ($)shares	Feb. 07, 2018$ / sharesshares	May 18, 2017USD ($)shares	Feb. 08, 2017employees$ / sharesshares	May 05, 2016USD ($)employees$ / sharesshares	Feb. 19, 2016$ / sharesshares	Feb. 10, 2015$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, weighted average fair value (dollars per share) | $ / shares								$ 6.44	$ 6.41	$ 6.24
Exercised (shares)								85,440	25,632
Shares of common stock purchased (shares)										29,500
Options exercisable (shares)								49,127
Options exercisable, weighted average exercise price (dollars per share) | $ / shares								$ 13.82
Share-based compensation expense | $								$ 826,998	$ 638,416	$ 459,473
Issuance of shares of common stock from the treasury (shares)								66,632	58,532	62,124
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercised (shares)								85,440	25,632	0
Option exercises, aggregate exercise price | $								$ 1,033,110	$ 296,050
Shares of common stock purchased (shares)								10,578
Cash received from previous employees | $								$ 141,855
Options exercisable (shares)								49,127	119,861	129,762
Options exercisable, weighted average exercise price (dollars per share) | $ / shares								$ 13.82	$ 12.45	$ 12.12
Share-based compensation expense | $								$ 46,529	$ 80,966	$ 135,085
Total unrecognized compensation cost | $								$ 36,420
Share-based compensation, weighted average period of recognition								1 year 21 days
2011 Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (shares)							32,532
Options granted, weighted average exercise price (dollars per share) | $ / shares							$ 16.01
Options granted, weighted average fair value (dollars per share) | $ / shares							$ 6.39
Risk free interest rate							2.00%
Expected life							7 years
Expected volatility rate							46.00%
Expected dividend yield							2.00%
2005 Stock Awards Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting rate								20.00%
2005 Stock Awards Plan | Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $								$ 780,469	557,450	324,388
Total unrecognized compensation cost | $								$ 1,077,095
Share-based compensation, weighted average period of recognition								1 year 10 months 16 days
Share-based compensation expense, period of recognition (years)								60 months
Share-based compensation expense, net of taxes | $								$ 616,571	$ 354,538	$ 206,311
Share-based compensation expense, net of taxes, (dollars per share) | $ / shares								$ 0.07	$ 0.04	$ 0.02
2015 Stock Awards Plan | Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting rate								20.00%
Number of shares authorized (shares)								250,000
Expiration period for awards								10 years
Period after grant date, awards vesting begins								1 year
Granted (shares)		65,527		44,687	42,193	50,062
Granted, weighted average grant date fair value (dollars per share) | $ / shares		$ 12.47		$ 12.30	$ 8.05	$ 7.51
Vesting period				3 years	5 years
Number of employees receiving grants | employees				8	5
2015 Stock Awards Plan | Stock Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting rate								20.00%
Number of shares authorized (shares)	250,000
2015 Stock Awards Plan | Stock Awards | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual vesting rate								33.00%
Number of shares authorized (shares)	500,000
Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares of common stock from the treasury (shares)	14,857		24,209		40,991
Annual cash retainer fees | $	$ 276,000		$ 287,500		$ 330,000
Restricted Stock | Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum annual retainer percent								100.00%
May 5, 2016 | 2015 Stock Awards Plan | Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $								$ 75,756
February 8, 2017 | 2015 Stock Awards Plan | Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $								$ 67,180

Stock Options, Stock Grants a_6

Stock Options, Stock Grants and New Stock Issues - Stock Award Activity (Details) - Stock Awards - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding, beginning of the year (shares)	131,667	121,302	51,440
Vested (shares)	(51,775)	(34,322)	(21,133)
Forfeited or expired (shares)	(3,245)		(1,260)
Outstanding, end of the year (shares)	142,174	131,667	121,302
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding, beginning of the year, weighted average grant date fair value (dollars per share)	$ 10.69	$ 10.03	$ 15.57
Vested, weighted average grant date fair value (dollars per share)	10.84	10.45	13.12
Forfeited or expired, weighted average grant date fair value (dollars per share)	10.96		17.73
Outstanding, end of the year, weighted average grant date fair value (dollars per share)	$ 11.45	$ 10.69	$ 10.03
February 19, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (shares)			50,062
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Granted, weighted average grant date fair value (dollars per share)			$ 7.51
May 05, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (shares)			42,193
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Granted, weighted average grant date fair value (dollars per share)			$ 8.05
February 08, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (shares)		44,687
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Granted, weighted average grant date fair value (dollars per share)		$ 12.30
February 07, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (shares)	65,527
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Granted, weighted average grant date fair value (dollars per share)	$ 12.47

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax assets:
Sale leaseback deferred gain	$ 1,310,850	$ 1,382,270
Inventory valuation reserves	174,377	209,745
Allowance for doubtful accounts	35,955	7,944
Inventory capitalization	1,500,710	943,203
Environmental reserves	0	124,029
Warranty accrual	8,084	8,132
Deferred compensation	28,090	36,617
Accrued bonus	910,824	483,238
Accrued expenses	22,957	24,749
State net operating loss carryforwards	1,934,071	2,069,258
Equity security mark to market	622,189	3,248
Straight line lease	230,841	123,570
Other	507,997	352,520
Total deferred income tax assets	7,286,945	5,768,523
Valuation allowance	(1,765,993)	(2,087,860)
Total net deferred income tax assets	5,520,952	3,680,663
Deferred income tax liabilities:
Tax over book depreciation and amortization	5,120,533	3,971,816
Prepaid expenses	377,498	174,322
Interest rate swap	103,708	87,016
Other	172,201	83,419
Total deferred income tax liabilities	5,773,940	4,316,573
Deferred income taxes	$ (252,988)	$ (635,910)

Income Taxes - Components of In

Income Taxes - Components of Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 3,468,673	$ 1,067,490	$ (980,495)
State	290,459	106,832	190,230
Total current	3,759,132	1,174,322	(790,265)
Deferred:
Federal	(107,879)	(1,043,384)	(1,329,302)
State	(275,043)	6,201	(78,433)
Total deferred	(382,922)	(1,037,183)	(1,407,735)
Total	$ 3,376,210	$ 137,139	$ (2,198,000)

Income Taxes - Effective Tax Ra

Income Taxes - Effective Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Expense Reconciliation
Tax at U.S. statutory rates	$ 3,459,464	$ 502,690	$ (3,125,382)
State income taxes, net of federal tax benefit	268,924	65,546	(48,842)
State valuation allowance	(314,505)	8,498	95,961
Life insurance cash surrender value	0	0	503,700
Manufacturing exemption	0	(116,980)	0
Stock option compensation	(39,401)	226	45,929
Rate change effects	0	(380,961)	0
Other, net	1,728	58,120	330,634
Total	$ 3,376,210	$ 137,139	$ (2,198,000)
Effective Tax Rate Reconciliation
Tax at U.S. statutory rates	21.00%	34.00%	34.00%
State income taxes, net of federal tax benefit	1.60%	4.40%	0.50%
State valuation allowance	(1.90%)	0.60%	(1.00%)
Life insurance cash surrender value	0.00%	0.00%	(5.50%)
Manufacturing exemption	0.00%	(7.90%)	0.00%
Stock option compensation	(0.20%)	0.00%	(0.50%)
Rate change effects	0.00%	(25.80%)	0.00%
Other, net	0.00%	4.00%	(3.60%)
Total	20.50%	9.30%	23.90%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosures [Line Items]
Income tax payments	$ 2,419,009	$ 2,576,515	$ 991,888
Continuing Operations
Income Tax Disclosures [Line Items]
Decrease in valuation allowance during the period	321,867
State Jurisdiction
Income Tax Disclosures [Line Items]
Net operating loss carryforwards	46,511,086	49,711,027
Portion of NOL subject to valuation allowance	41,742,152
Valuation allowance for net operating loss carrryforwards	1,689,246	2,064,674
Valuation Allowance, Other Deferred Tax Assets
Income Tax Disclosures [Line Items]
Valuation allowance for net operating loss carrryforwards	$ 76,747	$ 23,186

Benefit Plans and Collective _2

Benefit Plans and Collective Bargaining Agreements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan Disclosure [Line Items]
Total employer contributions to plans under collective-bargaining arrangements	$ 32,034	$ 29,042	$ 22,256
401(k) Employee Stock Ownership Plan
Defined Contribution Plan Disclosure [Line Items]
Employee maximum contribution percentage	100.00%
Employee maximum contribution amount	$ 18,500
Minimum age to qualify under Economic Growth and Tax Relief Reconciliation Act	50 years
Employee additional contribution eligible under Economic Growth and Tax Relief Reconciliation Act	$ 6,000
Employee maximum contribution eligible under Economic Growth and Tax Relief Reconciliation Act	$ 24,500
Employer maximum contribution percentage match	100.00%
Matching percentage by employer of employees' gross pay	4.00%
Matching contributions made by employer	$ 694,795	608,473	516,991
Employer discretionary contribution	$ 0	0	0
401(k) and Profit Sharing Plan
Defined Contribution Plan Disclosure [Line Items]
Employee maximum contribution percentage	60.00%
Employee maximum contribution amount	$ 18,500
Minimum age to qualify under Economic Growth and Tax Relief Reconciliation Act	50 years
Employee additional contribution eligible under Economic Growth and Tax Relief Reconciliation Act	$ 6,000
Employee maximum contribution eligible under Economic Growth and Tax Relief Reconciliation Act	$ 24,500
Employer contribution as a percentage of participant's eligible compensation	3.00%
Matching contributions made by employer	$ 215,778	174,229	136,763
Employer discretionary contribution	$ 0	0	$ 0
Maximum | Other Pension, Postretirement and Supplemental Plans
Defined Contribution Plan Disclosure [Line Items]
Funding percentage under defined benefit plans	80.00%
Employer contribution percentage of each participant's eligible compensation	4.00%
Employer's contribution percentage of total contributions	5.00%
Employer contributions to defined benefit plans	$ 129,403	$ 69,245

Leases - Narrative (Details)

Leases - Narrative (Details)	Sep. 30, 2016USD ($)renewal_option	Dec. 31, 2016USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jun. 29, 2018renewal_option
Leases [Abstract]
Gross proceeds from sale of properties accounted for as sale leaseback transactions	$ 22,000,000
Net book value of real estate properties sold	17,769,883
Loss recognized on sale of properties accounted for as sale leaseback transactions	2,455,347		$ (334,273)	$ (334,273)	$ 2,371,778
Gross deferred gain recognized on properties accounted for as sale leaseback transactions	$ 6,685,464
Initial lease term for properties under sale leaseback transactions	P20Y
Current period deferred gain recognized on properties accounted for as sale leaseback transactions		$ 83,568	334,273	334,273	83,569
Net proceeds from sale of properties accounted for as sale leaseback transactions	$ 21,925,000
Number of renewal options under sale leaseback transactions | renewal_option	2
Rent escalator for sale leaseback transactions	1.25
Sale lease back transaction, maximum rent escalator percentage	2.00%
Initial term of operating lease						20 years
Number of renewal options for operating leases | renewal_option						2
Number of years in each renewal term for operating leases	10 years					10 years
Rent escalator under operating leases						125.00%
Maximum rent escalator percentage for operating leases						2.00%
Operating lease rent expense			$ 3,994,012	$ 3,339,600	$ 1,143,895

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Under Operating Leases (Details)	Dec. 31, 2018USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019	$ 3,207,053
2020	3,243,694
2021	3,238,745
2022	3,224,810
2023	3,102,815
Thereafter	$ 45,337,403

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Lease Payments Under Capital Leases (Details)	Dec. 31, 2018USD ($)
Capital Leases, Future Minimum Payments Due, Rolling Maturity [Abstract]
2019	$ 354,299
2020	357,733
2021	346,570
2022	18,407
2023	0
Total minimum lease payments	1,077,009
Less imputed interest costs	164,826
Present value of net minimum lease payments	$ 912,183

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Numerator:
Net (loss) income from continuing operations									$ 13,097,429	$ 1,341,362	$ (6,993,967)
Net loss from discontinued operations, net of income taxes									$ 0	$ 0	$ (99,334)
Denominator:
Denominator for basic earnings per share - weighted average shares (shares)									8,806,079	8,704,730	8,649,745
Effect of dilutive securities:
Employee stock options and stock grants (shares)									71,530	22,757	0
Denominator for diluted earnings per share - weighted average shares (shares)									8,877,609	8,727,487	8,649,745
Net income (loss) per common share from continuing operations:
Basic (dollars per share)	$ 0.06	$ 0.57	$ 0.42	$ 0.44	$ 0.11	$ (0.14)	$ 0.10	$ 0.08	$ 1.49	$ 0.15	$ (0.81)
Diluted (dollars per share)	$ 0.06	$ 0.56	$ 0.41	$ 0.44	$ 0.11	$ (0.14)	$ 0.10	$ 0.08	1.48	0.15	(0.81)
Net loss per share from discontinued operations:
Basic (dollars per share)									0	0	(0.01)
Diluted (dollars per share)									$ 0	$ 0	$ (0.01)
Antidilutive securities excluded from earnings per share calculation (shares)									600	86,524	295,287

Industry Segments - Narrative (

Industry Segments - Narrative (Details)	12 Months Ended
	Dec. 31, 2018USD ($)reporting_unitsegments	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jul. 01, 2018USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Feb. 28, 2017USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segments	2
Number of reportable segments | segments	2
Goodwill	$ 9,799,992	$ 6,003,525	$ 1,354,730
Metals Segment
Segment Reporting Information [Line Items]
Number of reporting units | reporting_unit	3
Goodwill	$ 8,445,262	4,648,795	0
Specialty Chemicals Segment
Segment Reporting Information [Line Items]
Number of reporting units | reporting_unit	1
Goodwill	$ 1,354,730	1,354,730	1,354,730
Marcegalia USA, Inc. - Stainless
Segment Reporting Information [Line Items]
Goodwill		4,648,795			$ 4,648,795	$ 3,589,342	$ 3,589,342
Marcegalia USA, Inc. - Stainless | Metals Segment
Segment Reporting Information [Line Items]
Goodwill		4,648,795
Marcegalia USA, Inc. - Galvanized
Segment Reporting Information [Line Items]
Goodwill	3,796,467			$ 3,545,467
Marcegalia USA, Inc. - Galvanized | Metals Segment
Segment Reporting Information [Line Items]
Goodwill	$ 3,796,467
BRISMET, Palmer and Specialty | Metals Segment
Segment Reporting Information [Line Items]
Ownership percentage of subsidiary	100.00%
Manufacturers Soap and Chemical Company | Specialty Chemicals Segment
Segment Reporting Information [Line Items]
Ownership percentage of subsidiary	100.00%
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Environmental charges	$ 50,617	$ 37,748	$ 48,000

Industry Segments - Segment Inf

Industry Segments - Segment Information (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales		$ 72,674,176	$ 77,792,878	$ 71,893,763	$ 58,480,602	$ 52,837,134	$ 54,595,924	$ 51,511,045	$ 42,203,579	$ 280,841,419	$ 201,147,682	$ 138,565,782
Gain (loss) on sale-leaseback	$ (2,455,347)									334,273	334,273	(2,371,778)
Earn-out adjustments										1,430,682	688,523	0
Operating income (loss)										21,237,259	2,057,128	(8,246,398)
Acquisition related costs										1,211,797	794,983	106,227
Interest expense										2,210,506	985,366	932,572
Change in fair value of interest rate swap										(19,484)	(96,696)	12,997
Other income, net										2,572,598	(310,043)	0
Income (loss) before income taxes										16,473,639	1,478,501	(9,191,967)
Identifiable assets		228,398,846				159,874,150				228,398,846	159,874,150
Depreciation and amortization										8,775,177	7,737,812	6,694,990
Capital expenditures										7,354,737	5,278,608	3,044,411
United States
Segment Reporting Information [Line Items]
Net sales										273,244,175	196,172,279	132,313,157
Elsewhere
Segment Reporting Information [Line Items]
Net sales										7,597,244	4,975,403	6,252,625
Specialty chemicals
Segment Reporting Information [Line Items]
Net sales										58,599,274	48,190,487	48,351,245
Stainless steel pipe
Segment Reporting Information [Line Items]
Net sales										146,237,630	100,253,823	56,065,642
Seamless carbon steel pipe and tube
Segment Reporting Information [Line Items]
Net sales										32,473,950	25,103,641	14,913,133
Liquid storage tanks and separation equipment
Segment Reporting Information [Line Items]
Net sales										31,653,832	27,599,731	19,235,762
Galvanized pipe and tube
Segment Reporting Information [Line Items]
Net sales										11,876,733	0	0
Operating Segments
Segment Reporting Information [Line Items]
Net sales										280,841,419	201,147,682	138,565,782
Operating income (loss)										31,757,585	10,054,473	(2,305,009)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Unallocated corporate expenses										7,877,847	6,513,839	5,835,162
Earn-out adjustments										1,430,682	688,523	0
Operating income (loss)										21,237,259	2,057,128	(8,246,398)
Acquisition related costs										1,211,797	794,983	106,227
Interest expense										2,210,506	985,366	932,572
Change in fair value of interest rate swap										(19,484)	(96,696)	12,997
Other income, net										2,572,598	(310,043)	0
Income (loss) before income taxes										16,473,639	1,478,501	(9,191,967)
Identifiable assets		8,028,438				4,023,215				8,028,438	4,023,215
Depreciation and amortization										149,734	154,552	113,047
Capital expenditures										87,759	223,089	370,173
Metals Segment
Segment Reporting Information [Line Items]
Operating income (loss)										27,783,511	5,664,228	(6,986,510)
Metals Segment | Operating Segments
Segment Reporting Information [Line Items]
Net sales										222,242,145	152,957,195	90,214,537
Operating income (loss)										27,543,907	5,424,624	(4,820,374)
Gain (loss) on sale-leaseback										239,604	239,604	(2,166,136)
Identifiable assets		192,195,733				130,456,857				192,195,733	130,456,857
Depreciation and amortization										7,197,814	6,280,681	5,132,506
Capital expenditures										5,969,216	3,405,552	2,198,535
Specialty Chemicals Segment
Segment Reporting Information [Line Items]
Operating income (loss)										3,974,074	4,390,245	4,681,501
Specialty Chemicals Segment | Operating Segments
Segment Reporting Information [Line Items]
Net sales										58,599,274	48,190,487	48,351,245
Operating income (loss)										3,879,405	4,295,576	4,887,143
Gain (loss) on sale-leaseback										94,669	94,669	(205,642)
Identifiable assets		$ 28,174,675				$ 25,394,078				28,174,675	25,394,078
Depreciation and amortization										1,427,629	1,302,579	1,449,437
Capital expenditures										$ 1,297,762	$ 1,649,967	$ 475,703

Quarterly Results (Unaudited)_2

Quarterly Results (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 72,674,176	$ 77,792,878	$ 71,893,763	$ 58,480,602	$ 52,837,134	$ 54,595,924	$ 51,511,045	$ 42,203,579	$ 280,841,419	$ 201,147,682	$ 138,565,782
Gross profit	10,259,233	14,028,366	15,716,322	11,233,418	7,662,824	4,836,620	8,177,927	7,403,579	51,237,339	28,080,950	16,904,479
Net income (loss)	$ 549,436	$ 5,035,558	$ 3,677,272	$ 3,835,163	1,016,693	(1,206,752)	829,879	701,542	13,097,429	1,341,362	(7,093,301)
Other comprehensive income (loss)					(10,864)	(366,346)	366,346	0		(10,864)
Comprehensive income (loss)					$ 1,005,829	$ (1,573,098)	$ 1,196,225	$ 0	$ 13,097,429	$ 1,330,498	$ (7,093,301)
Per common share
Basic (dollars per share)	$ 0.06	$ 0.57	$ 0.42	$ 0.44	$ 0.11	$ (0.14)	$ 0.10	$ 0.08	$ 1.49	$ 0.15	$ (0.81)
Diluted (dollars per share)	$ 0.06	$ 0.56	$ 0.41	$ 0.44	$ 0.11	$ (0.14)	$ 0.10	$ 0.08	$ 1.48	$ 0.15	$ (0.81)

Interest Rate Swap (Details)

Interest Rate Swap (Details) - Interest Rate Swap - Palmer of Texas - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Term Loan
Derivative [Line Items]
Interest rate swap asset	$ 147,465	$ 127,981
Not Designated as Hedging Instrument
Derivative [Line Items]
Interest rate swap, notional amount	$ 8,250,000	$ 10,500,000

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($)	Jul. 01, 2018	Mar. 01, 2017	Feb. 28, 2017	Dec. 31, 2018	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 29, 2018	Mar. 31, 2017	Dec. 09, 2016
Business Acquisition [Line Items]
Acquisition related costs								$ 1,211,797	$ 794,983	$ 106,227
Goodwill				$ 9,799,992		$ 9,799,992	$ 6,003,525	9,799,992	6,003,525	1,354,730
Lease term											20 years
Level 3 Inputs
Business Acquisition [Line Items]
Fair value of earn-out liability				7,609,384		7,609,384	4,833,850	7,609,384	4,833,850	$ 0
Marcegalia USA, Inc. - Galvanized
Business Acquisition [Line Items]
Purchase price	$ 10,378,281
Contingent consideration earn-out period	4 years
Percentage of earn-out payments	3.00%
Forecasted earn-out payments	$ 4,244,939
Fair value of earn-out payments	3,800,298			3,800,298		3,800,298		3,800,298
Purchase accounting adjustment for intangible assets				251,000		251,000
Goodwill, purchase accounting adjustments				251,000		251,000
Goodwill	3,545,467			3,796,467		3,796,467		3,796,467
Intangible assets	$ 1,424,000			1,173,000		1,173,000		1,173,000
Net sales								11,876,733
Income before income taxes								64,971
Marcegalia USA, Inc. - Galvanized | Acquisition-related Costs
Business Acquisition [Line Items]
Acquisition related costs								666,357
Marcegalia USA, Inc. - Galvanized | Customer List
Business Acquisition [Line Items]
Amortization period for intangible assets	15 years
Marcegalia USA, Inc. - Galvanized | Level 3 Inputs
Business Acquisition [Line Items]
Fair value of earn-out liability				3,357,800		3,357,800		3,357,800
Marcegalia USA, Inc. - Galvanized | Level 3 Inputs | Other Current Liabilities
Business Acquisition [Line Items]
Fair value of earn-out liability				$ 990,823		$ 990,823		$ 990,823
Marcegalia USA, Inc. - Galvanized | Measurement Input, Discount Rate
Business Acquisition [Line Items]
Discount rate applied to earn-out payments	0.05
Marcegalia USA, Inc. - Stainless
Business Acquisition [Line Items]
Purchase price			$ 14,953,513
Fair value of earn-out payments			3,604,330		$ 4,663,783		4,663,783		4,663,783			$ 3,604,330
Goodwill, purchase accounting adjustments							1,059,453
Goodwill			3,589,342		4,648,795		4,648,795		4,648,795			$ 3,589,342
Intangible assets			$ 992,000				992,000		992,000
Escrow deposit													$ 3,000,000
Goodwill and earn-out liability, provisional adjustment					$ 1,059,453		$ 1,059,453
Net sales									25,766,689
Income before income taxes									$ 245,408
Monthly lease payment		$ 33,333
Lease term		15 months
Marcegalia USA, Inc. - Stainless | Earn-Out Payment
Business Acquisition [Line Items]
Contingent consideration earn-out period			4 years
Percentage of earn-out payments			3.00%
Forecasted earn-out payments			$ 4,063,204
Contingent consideration payment, lower limit			3,000,000
Estimated earn out payments, discounted			$ 3,604,330
Discount rate applicable to future revenue			5.00%
Marcegalia USA, Inc. - Stainless | Customer List
Business Acquisition [Line Items]
Amortization period for intangible assets									15 years

Acquisitions - Fair Value of As

Acquisitions - Fair Value of Assets Identified and Liabilities Assumed (Details) - USD ($)	3 Months Ended		6 Months Ended	10 Months Ended
	Dec. 31, 2018	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Jul. 01, 2018	Mar. 31, 2017	Feb. 28, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 9,799,992		$ 9,799,992	$ 6,003,525				$ 1,354,730
Marcegalia USA, Inc. - Galvanized
Business Acquisition [Line Items]
Inventories	2,746,000		2,746,000		$ 2,746,000
Accounts Receivable	2,187,141		2,187,141		2,187,141
Other current assets - production and maintenance supplies	746,729		746,729		746,729
Property, plant and equipment	4,883,847		4,883,847		4,883,847
Customer list intangible	1,173,000		1,173,000		1,424,000
Customer list intangible, purchase accounting adjustments	(251,000)		(251,000)
Goodwill	3,796,467		3,796,467		3,545,467
Goodwill, purchase accounting adjustments	251,000		251,000
Earn-out Liability	(3,800,298)		(3,800,298)		(3,800,298)
Accounts payable	(1,051,239)		(1,051,239)		(1,051,239)
Other liabilities	(303,366)		(303,366)		(303,366)
Total goodwill, assets and liabilities acquired, net	$ 10,378,281		10,378,281		$ 10,378,281
Total revisions and adjustments			$ 0
Marcegalia USA, Inc. - Stainless
Business Acquisition [Line Items]
Inventories				5,434,000			$ 5,434,000
Other current assets - production and maintenance supplies				1,548,701			1,548,701
Property, plant and equipment				7,576,733			7,576,733
Customer list intangible				992,000			992,000
Goodwill		$ 4,648,795		4,648,795		$ 3,589,342	3,589,342
Goodwill, purchase accounting adjustments				1,059,453
Earn-out Liability		(4,663,783)		(4,663,783)		$ (3,604,330)	(3,604,330)
Earn-out liability revision		$ (1,059,453)		(1,059,453)
Other liabilities				(582,933)			(582,933)
Total goodwill, assets and liabilities acquired, net				14,953,513			$ 14,953,513
Total revisions and adjustments				$ 0

Acquisitions - Results of Opera

Acquisitions - Results of Operations Since Acquisition (Details) - Marcegalia USA, Inc. - Galvanized	12 Months Ended
	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Net sales	$ 11,876,733
Income before income taxes	$ 64,971

Acquisitions - Pro Forma Inform

Acquisitions - Pro Forma Information (Details) - Marcegalia USA, Inc. - Galvanized - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Pro-forma net sales	$ 292,793,331	$ 225,375,581
Pro-forma net income (loss)	$ 11,920,277	$ 20,960
Earnings per share:
Basic (dollars per share)	$ 1.35
Diluted (dollars per share)	$ 1.34

Dispositions and Closures (Deta

Dispositions and Closures (Details) - USD ($)	Jul. 01, 2014	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Oct. 01, 2016	Jun. 27, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss before income taxes		$ 0	$ 0	$ (99,334)
Bristol Fab
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pension withdrawal liability							$ 1,904,628
Bristol Fab and Ram-fab
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales				0
Loss before income taxes				(150,334)
Benefit from income taxes				(51,000)
Net loss from discontinued operations				(99,334)
Pending Litigation | Synalloy Fabrication, LLC Customer Breach of Contract Case | Bristol Fab
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Litigation damages sought				99,334	$ 1,251,058
Accrued legal expenses				$ 0
Withdrawal from Multiemployer Defined Benefit Plan | Bristol Fab
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt term	26 months
Stated interest rate						4.51%

Payment of Dividends (Details)

Payment of Dividends (Details) - USD ($)	Dec. 12, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Payments of Dividends [Abstract]
Dividends paid (in dollars per share)	$ 0.25	$ 0.25	$ 0.13
Total outlay for dividends	$ 2,250,537		$ 1,148,513	$ 0

At the Market Offering (Details

At the Market Offering (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Aug. 09, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 1		$ 1
Number of shares issued in transaction (shares)	44,378
Value of shares issued	$ 982,521
At-The-Market Program | BB&T Capital Markets
Class of Stock [Line Items]
Common stock, par value (in dollars per share)		$ 1
Aggregate offering price, up to		$ 10,000,000
Number of shares issued in transaction (shares)	44,378
Value of shares issued	$ 982,519
Payments for commissions	$ 20,470

Revenues - Schedule of Disaggre

Revenues - Schedule of Disaggregated Revenues by Source (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Net sales	$ 72,674,176	$ 77,792,878	$ 71,893,763	$ 58,480,602	$ 52,837,134	$ 54,595,924	$ 51,511,045	$ 42,203,579	$ 280,841,419	$ 201,147,682	$ 138,565,782
Storage tank and vessel
Disaggregation of Revenue [Line Items]
Net sales									31,653,832	27,599,731
Seamless carbon steel pipe and tube
Disaggregation of Revenue [Line Items]
Net sales									32,473,950	25,103,641
Stainless steel pipe
Disaggregation of Revenue [Line Items]
Net sales									146,237,630	100,253,823
Galvanized pipe
Disaggregation of Revenue [Line Items]
Net sales									11,876,733	0
Specialty chemicals
Disaggregation of Revenue [Line Items]
Net sales									$ 58,599,274	$ 48,190,487

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Decrease in deferred revenue balance	$ 7,356
Advances from customers	177,518	$ 184,874
Payments received in advance of satisfying performance obligations	2,597,792
Deferred revenue, revenue recognized in period	$ 2,605,148

Subsequent Events (Details)

Subsequent Events (Details)	Feb. 21, 2019shares	Jan. 01, 2019USD ($)renewal_option	Dec. 20, 2018USD ($)	Dec. 31, 2018USD ($)	Jun. 29, 2018USD ($)renewal_option	Oct. 30, 2017USD ($)	Sep. 30, 2016
Subsequent Event [Line Items]
Initial term of operating lease					20 years
Number of renewal options for operating leases | renewal_option					2
Number of years in each renewal term for operating leases					10 years		10 years
Rent expense under operating leases due in first year				$ 3,207,053
Rent escalator under operating leases					125.00%
Maximum rent escalator percentage for operating leases					2.00%
Term Loan
Subsequent Event [Line Items]
Debt term			5 years
Principal amount of debt			$ 20,000,000
ABL Line of Credit, Due October 30, 2020 | Revolving Line of Credit
Subsequent Event [Line Items]
Line of credit, maximum borrowing capacity			$ 100,000,000	$ 93,860,450	$ 80,000,000	$ 65,000,000
Subsequent Event
Subsequent Event [Line Items]
Initial term of operating lease		20 years
Number of renewal options for operating leases | renewal_option		2
Number of years in each renewal term for operating leases		10 years
Rent expense under operating leases due in first year		$ 430,000
Rent escalator under operating leases		125.00%
Maximum rent escalator percentage for operating leases		2.00%
Number of shares authorized to be repurchased (shares) | shares	850,000
Period for shares to be repurchased	24 months
Subsequent Event | Term Loan
Subsequent Event [Line Items]
Debt term		5 years
Principal amount of debt		$ 20,000,000
Subsequent Event | American Stainless Tubing, Inc. | American Stainless
Subsequent Event [Line Items]
Purchase price		$ 22,736,854
Contingent consideration earn-out period		3 years
Subsequent Event | American Stainless Tubing, Inc. | American Stainless | Earn-Out Payment
Subsequent Event [Line Items]
Percentage of earn-out payments		6.50%

Schedule II Valuation and Qua_2

Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 35	$ 82	$ 247
Charged to (Reduction of) Cost and Expenses	240	202	(45)
Deductions	(106)	(249)	(120)
Balance at End of Period	169	35	82
Inventory reserves
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	697	966	682
Charged to (Reduction of) Cost and Expenses	1,828	1,237	984
Deductions	(1,849)	(1,506)	(700)
Balance at End of Period	$ 676	$ 697	$ 966