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 report issued on Monday.
Friedman Industries Stock Down 1.5%
Friedman Industries stock opened at $16.08 on Monday. Friedman Industries has a twelve month low of $12.24 and a twelve month high of $19.12. The stock's fifty day moving average is $16.47. The stock has a market capitalization of $113.52 million, a price-to-earnings ratio of 18.70 and a beta of 1.51.
Friedman Industries (NASDAQ:FRD - Get Free Report) last released its earnings results on Thursday, June 12th. The company reported $0.76 EPS for the quarter. The firm had revenue of $129.22 million during the quarter. Friedman Industries had a return on equity of 4.70% and a net margin of 1.37%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Mink Brook Asset Management LLC grew its position in shares of Friedman Industries by 0.5% in the 1st 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 during the last quarter. Empowered Funds LLC boosted its stake in Friedman Industries by 6.8% in the first quarter. Empowered Funds LLC now owns 39,123 shares of the company's stock valued at $583,000 after acquiring an additional 2,494 shares in the last quarter. State of Wyoming purchased a new position in shares of Friedman Industries during the first quarter worth about $45,000. Jane Street Group LLC acquired a new stake in shares of Friedman Industries during the first quarter worth about $174,000. Finally, Truffle Hound Capital LLC purchased a new position in Friedman Industries during the 1st quarter worth approximately $1,562,000. 33.26% of the stock is owned by institutional investors and hedge funds.
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
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
