Friedman Industries (NASDAQ:FRD) Given Hold (C+) Rating at Weiss Ratings

Key Points

• Friedman Industries received a "hold (C+)" rating from Weiss Ratings, which reaffirms the stock's average "Hold" rating across analysts.
• In a separate rating update, Wall Street Zen upgraded Friedman Industries from a "buy" to a "strong-buy," indicating increased confidence in the stock's potential.
• The company reported $0.71 EPS and revenue of $134.78 million for its latest quarter, highlighting its ongoing financial performance amidst updates from institutional investors.

Friedman Industries (NASDAQ:FRD - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Friedman Industries from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 17th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold".

Friedman Industries Stock Performance

Shares of FRD traded down $0.03 during midday trading on Tuesday, reaching $20.20. 3,971 shares of the company were exchanged, compared to its average volume of 24,696. The company's 50-day moving average is $19.92. The stock has a market capitalization of $142.61 million, a P/E ratio of 16.83 and a beta of 1.49. Friedman Industries has a 1-year low of $12.24 and a 1-year high of $22.98.

Friedman Industries (NASDAQ:FRD - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.71 EPS for the quarter. The company had revenue of $134.78 million for the quarter. Friedman Industries had a return on equity of 6.50% and a net margin of 1.84%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FRD. Truffle Hound Capital LLC acquired a new position in shares of Friedman Industries in the first quarter worth about $1,562,000. Mink Brook Asset Management LLC raised its stake in Friedman Industries by 0.5% during the first quarter. Mink Brook Asset Management LLC now owns 189,616 shares of the company's stock valued at $2,823,000 after buying an additional 952 shares in the last quarter. State of Wyoming acquired a new stake in Friedman Industries during the first quarter valued at approximately $45,000. Empowered Funds LLC raised its stake in Friedman Industries by 6.8% during the first quarter. Empowered Funds LLC now owns 39,123 shares of the company's stock valued at $583,000 after buying an additional 2,494 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Friedman Industries during the first quarter valued at approximately $174,000. Institutional investors and hedge funds own 33.26% of the company's stock.

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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