Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.
Friedman Industries Price Performance
Shares of FRD opened at $14.99 on Monday. The stock has a market cap of $104.48 million, a PE ratio of 8.72 and a beta of 1.37. Friedman Industries has a 52 week low of $9.50 and a 52 week high of $19.52.
Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.37 EPS for the quarter. The business had revenue of $114.55 million during the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%.
Insider Activity at Friedman Industries
Institutional Trading of Friedman Industries
Large investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in Friedman Industries during the first quarter worth about $131,000. LSV Asset Management bought a new stake in Friedman Industries during the second quarter worth about $343,000. O Shaughnessy Asset Management LLC bought a new stake in Friedman Industries during the first quarter worth about $425,000. Empowered Funds LLC grew its stake in Friedman Industries by 8.0% during the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after buying an additional 2,275 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Friedman Industries by 9.6% during the first quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock worth $610,000 after purchasing an additional 2,859 shares in the last quarter. 33.26% of the stock is owned by institutional investors.
Friedman Industries Company Profile
Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils.
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