Friedman Industries (NASDAQ:FRD - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.76 earnings per share for the quarter, Zacks reports. The firm had revenue of $129.22 million for the quarter.
Friedman Industries Stock Performance
Shares of FRD stock traded down $0.31 during trading on Friday, reaching $16.69. The company had a trading volume of 30,505 shares, compared to its average volume of 18,055. Friedman Industries has a one year low of $12.24 and a one year high of $19.12. The company has a market capitalization of $116.33 million, a price-to-earnings ratio of 19.41 and a beta of 1.51.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Friedman Industries stock. Empowered Funds LLC lifted its stake in Friedman Industries Inc (NASDAQ:FRD - Free Report) by 6.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,123 shares of the company's stock after acquiring an additional 2,494 shares during the period. Empowered Funds LLC owned 0.56% of Friedman Industries worth $583,000 at the end of the most recent reporting period. 33.26% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised Friedman Industries from a "hold" rating to a "buy" rating in a research note on Saturday.
View Our Latest Research Report on FRD
Friedman Industries Company Profile
(
Get Free Report)
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.
Featured Articles
Before you consider Friedman Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Friedman Industries wasn't on the list.
While Friedman Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
