Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.
Friedman Industries Trading Down 1.2 %
Shares of Friedman Industries stock opened at $13.94 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 cap of $97.16 million, a price-to-earnings ratio of 8.10 and a beta of 1.37.
Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (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 Trading of Friedman Industries
Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Friedman Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock valued at $8,482,000 after purchasing an additional 1,591 shares in the last quarter. Gendell Jeffrey L lifted its holdings in Friedman Industries by 16.4% during the first quarter. Gendell Jeffrey L now owns 435,666 shares of the company’s stock valued at $8,164,000 after purchasing an additional 61,339 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Friedman Industries by 0.6% during the second quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock valued at $5,464,000 after purchasing an additional 2,245 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Friedman Industries by 1.0% during the second quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock valued at $2,048,000 after purchasing an additional 1,337 shares in the last quarter. Finally, Callahan Advisors LLC lifted its holdings in Friedman Industries by 8.6% during the second quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock valued at $817,000 after purchasing an additional 4,293 shares in the last quarter. 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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