Friedman Industries (NASDAQ:FRD - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.
Friedman Industries Stock Down 1.8%
NASDAQ:FRD traded down $0.31 during trading hours on Friday, hitting $16.69. 30,505 shares of the stock traded hands, compared to its average volume of 18,055. Friedman Industries has a fifty-two week low of $12.24 and a fifty-two week high of $19.12. The company has a market cap of $116.33 million, a P/E ratio of 19.41 and a beta of 1.51.
Friedman Industries (NASDAQ:FRD - Get Free Report) last posted its quarterly earnings results on Thursday, June 12th. The company reported $0.76 EPS for the quarter. The company had revenue of $129.22 million for the quarter.
Hedge Funds Weigh In On Friedman Industries
Several institutional investors and hedge funds have recently modified their holdings of FRD. State of Wyoming purchased a new position in shares of Friedman Industries during the 1st quarter valued at $45,000. Jane Street Group LLC acquired a new position in Friedman Industries during the first quarter worth $174,000. Empowered Funds LLC increased its position in Friedman Industries by 6.8% during the first quarter. Empowered Funds LLC now owns 39,123 shares of the company's stock worth $583,000 after buying an additional 2,494 shares during the last quarter. Truffle Hound Capital LLC acquired a new position in Friedman Industries during the first quarter worth $1,562,000. Finally, Mink Brook Asset Management LLC increased its position 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 worth $2,823,000 after buying an additional 952 shares during the last quarter. 33.26% of the stock is currently owned by hedge funds and other institutional investors.
About Friedman Industries
(
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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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