Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.
Friedman Industries Price Performance
FRD stock opened at $15.21 on Tuesday. Friedman Industries has a 12-month low of $9.50 and a 12-month high of $19.52. The company has a market cap of $106.01 million, a PE ratio of 8.77 and a beta of 1.37.
Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter. Friedman Industries had a return on equity of 9.65% and a net margin of 2.48%. The firm had revenue of $114.55 million during the quarter.
Insiders Place Their Bets
Institutional Trading of Friedman Industries
Several institutional investors have recently made changes to their positions in FRD. Gendell Jeffrey L boosted 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 purchasing an additional 61,339 shares during the period. LSV Asset Management purchased a new stake in Friedman Industries during the 2nd quarter worth $343,000. O Shaughnessy Asset Management LLC purchased a new stake in Friedman Industries during the 1st quarter worth $425,000. Hillsdale Investment Management Inc. purchased a new stake in Friedman Industries during the 1st quarter worth $131,000. Finally, Callahan Advisors LLC boosted 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 purchasing an additional 4,293 shares during the period. 33.26% of the stock is owned by hedge funds and other 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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