Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
Friedman Industries Price Performance
FRD stock opened at $14.99 on Monday. Friedman Industries has a 12-month low of $9.50 and a 12-month high of $19.52. The company has a market capitalization of $104.48 million, a price-to-earnings ratio of 8.72 and a beta of 1.37.
Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%. The business had revenue of $114.55 million for the quarter.
Insider Activity
Institutional Investors Weigh In On Friedman Industries
Several institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Friedman Industries by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock worth $8,482,000 after acquiring an additional 1,591 shares during the last quarter. Gendell Jeffrey L lifted its position in Friedman Industries by 16.4% during the 1st quarter. Gendell Jeffrey L now owns 435,666 shares of the company’s stock worth $8,164,000 after acquiring an additional 61,339 shares during the last quarter. Renaissance Technologies LLC lifted its position in Friedman Industries by 0.6% during the 2nd quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock worth $5,464,000 after acquiring an additional 2,245 shares during the last quarter. Acadian Asset Management LLC lifted its position in Friedman Industries by 1.0% during the 2nd quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock worth $2,048,000 after acquiring an additional 1,337 shares during the last quarter. Finally, Callahan Advisors LLC lifted its position in Friedman Industries by 8.6% during the 2nd quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock worth $817,000 after acquiring an additional 4,293 shares during the last quarter. Institutional investors and hedge funds own 33.26% of the company’s stock.
About Friedman Industries
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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