Friedman Industries (NASDAQ:FRD - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.
Friedman Industries Price Performance
Friedman Industries stock traded down $0.05 during trading hours on Friday, hitting $17.45. 5,936 shares of the stock traded hands, compared to its average volume of 24,043. Friedman Industries has a 1 year low of $12.24 and a 1 year high of $18.48. The firm has a market capitalization of $123.20 million, a PE ratio of 14.54 and a beta of 1.51. The firm's 50 day moving average price is $16.21.
Friedman Industries (NASDAQ:FRD - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter. Friedman Industries had a return on equity of 6.50% and a net margin of 1.84%. The firm had revenue of $134.78 million for the quarter.
Hedge Funds Weigh In On Friedman Industries
A number of hedge funds have recently bought and sold shares of FRD. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Friedman Industries in the second quarter valued at approximately $29,000. State of Wyoming acquired a new stake in shares of Friedman Industries in the 1st quarter worth $45,000. New York State Common Retirement Fund acquired a new stake in shares of Friedman Industries in the 2nd quarter worth $103,000. JPMorgan Chase & Co. increased its stake in shares of Friedman Industries by 760.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,364 shares of the company's stock worth $105,000 after acquiring an additional 5,624 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Friedman Industries in the 1st quarter worth $174,000. Hedge funds and other institutional investors own 33.26% of the company's stock.
About Friedman Industries
(
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.
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