Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) 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 – Get Free Report) 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
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.
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