Friedman Industries (NYSEAMERICAN:FRD) Downgraded by StockNews.com

Friedman Industries (NYSEAMERICAN:FRD) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Friedman Industries Price Performance

NYSEAMERICAN FRD opened at $15.94 on Friday. The company has a market capitalization of $111.10 million, a PE ratio of 6.67 and a beta of 1.37. Friedman Industries has a 12 month low of $9.50 and a 12 month high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter. The firm 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 Transactions at Friedman Industries

In other Friedman Industries news, Director Max Alan Reichenthal purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of $14.00 per share, for a total transaction of $28,000.00. Following the purchase, the director now owns 30,761 shares in the company, valued at approximately $430,654. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Joe L. Williams acquired 3,000 shares of Friedman Industries stock in a transaction dated Wednesday, July 10th. The stock was bought at an average price of $14.34 per share, for a total transaction of $43,020.00. Following the completion of the acquisition, the director now directly owns 31,574 shares in the company, valued at approximately $452,771.16. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Max Alan Reichenthal bought 2,000 shares of the stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average price of $14.00 per share, for a total transaction of $28,000.00. Following the purchase, the director now owns 30,761 shares of the company’s stock, valued at $430,654. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders acquired 9,365 shares of company stock worth $134,261. 3.80% of the stock is owned by company insiders.

Institutional Trading of Friedman Industries

Several institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. acquired a new stake in shares of Friedman Industries during the first quarter worth $131,000. LSV Asset Management bought a new stake in Friedman Industries in the 2nd quarter valued at about $343,000. O Shaughnessy Asset Management LLC bought a new stake in Friedman Industries in the 1st quarter valued at about $425,000. Empowered Funds LLC grew its position in shares of Friedman Industries by 8.0% during the 1st quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after purchasing an additional 2,275 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings 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 during the period. 33.26% of the stock is currently 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.