Empowered Funds LLC Invests $1.54 Million in Friedman Industries Inc. $FRD

Key Points

• Empowered Funds LLC acquired 47,857 shares of Friedman Industries during the second quarter, valued at approximately $1.54 million and representing a 0.66% stake. Institutional investors collectively own 33.26% of the company.
• Friedman Industries reported quarterly EPS of $1.79 on revenue of $239.97 million, with an 18.29% return on equity and a 3.63% net margin.
• FRD shares opened at $45.36, near their $48.77 one-year high, while the company maintained a $0.04 quarterly dividend, equivalent to a 0.4% yield. Weiss Ratings upgraded the stock to “buy (b),” and the consensus rating remains “Buy.”

Empowered Funds LLC acquired a new stake in Friedman Industries Inc. (NASDAQ:FRD - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 47,857 shares of the company's stock, valued at approximately $1,540,000. Empowered Funds LLC owned about 0.66% of Friedman Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Friedman Industries by 50.7% in the third quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company's stock valued at $37,000 after buying an additional 576 shares during the period. Bailard Inc. grew its stake in shares of Friedman Industries by 4.9% during the 4th quarter. Bailard Inc. now owns 13,324 shares of the company's stock worth $273,000 after acquiring an additional 624 shares during the period. Bank of New York Mellon Corp increased its holdings in Friedman Industries by 1.8% in the 1st quarter. Bank of New York Mellon Corp now owns 59,033 shares of the company's stock worth $1,046,000 after acquiring an additional 1,036 shares during the last quarter. Barclays PLC increased its holdings in Friedman Industries by 9.4% in the 4th quarter. Barclays PLC now owns 13,071 shares of the company's stock worth $268,000 after acquiring an additional 1,119 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Friedman Industries by 10.8% in the 1st quarter. NewEdge Advisors LLC now owns 11,567 shares of the company's stock valued at $205,000 after acquiring an additional 1,131 shares during the period. 33.26% of the stock is owned by institutional investors.

Friedman Industries Stock Up 0.8%

FRD opened at $45.36 on Friday. The company has a fifty day moving average price of $38.25 and a 200-day moving average price of $27.41. The firm has a market capitalization of $327.05 million, a P/E ratio of 11.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.90 and a quick ratio of 1.00. Friedman Industries Inc. has a one year low of $16.55 and a one year high of $48.77.

Friedman Industries (NASDAQ:FRD - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter. The company had revenue of $239.97 million for the quarter. Friedman Industries had a return on equity of 18.29% and a net margin of 3.63%.

Friedman Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 17th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Friday, July 17th. Friedman Industries's dividend payout ratio is currently 4.17%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Friedman Industries from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 24th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy".

Friedman Industries Profile

Friedman Industries, Inc is a specialized manufacturer of high-quality steel grating products for industrial and commercial applications. The company's core offerings include industrial bar gratings, stair treads, trench covers, checkered plates and lighting frames. These products are designed to meet stringent safety and durability requirements in sectors such as oil and gas, power generation, wastewater treatment and infrastructure development.

Friedman Industries serves a broad customer base across North America, providing both standard and custom solutions through its manufacturing facilities in Pennsylvania and California.

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