Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.
Friedman Industries Stock Performance
NYSEAMERICAN FRD traded up $0.34 on Monday, reaching $16.02. The company had a trading volume of 7,452 shares, compared to its average volume of 18,673. The company has a market cap of $111.66 million, a P/E ratio of 6.70 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 posted its earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter. The company had revenue of $114.55 million for the quarter. Friedman Industries had a return on equity of 9.65% and a net margin of 2.48%.
Insider Activity
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in Friedman Industries during the 1st quarter valued at approximately $131,000. O Shaughnessy Asset Management LLC acquired a new stake in Friedman Industries during the 1st quarter worth about $425,000. LSV Asset Management purchased a new stake in Friedman Industries during the 2nd quarter valued at about $343,000. Janney Montgomery Scott LLC increased its holdings in shares of Friedman Industries by 17.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock valued at $459,000 after purchasing an additional 4,377 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Friedman Industries by 8.0% in the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after purchasing an additional 2,275 shares during the last quarter. Institutional investors 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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