Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $16.19. Friedman Industries shares last traded at $15.33, with a volume of 20,190 shares.
Analyst Ratings Changes
Separately, Wall Street Zen downgraded shares of Friedman Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, April 15th.
Read Our Latest Report on FRD
Friedman Industries Stock Up 1.1%
The firm's 50 day moving average price is $16.40. The company has a market capitalization of $112.43 million, a P/E ratio of 19.91 and a beta of 1.40.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in shares of Friedman Industries during the first quarter valued at about $463,000. Wealthedge Investment Advisors LLC acquired a new position in Friedman Industries in the fourth quarter valued at approximately $204,000. Mink Brook Asset Management LLC acquired a new position in Friedman Industries in the fourth quarter valued at approximately $2,885,000. Bridgeway Capital Management LLC increased its holdings in shares of Friedman Industries by 0.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 157,850 shares of the company's stock valued at $2,414,000 after acquiring an additional 651 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Friedman Industries by 38.1% during the fourth quarter. Northern Trust Corp now owns 26,511 shares of the company's stock valued at $405,000 after acquiring an additional 7,320 shares in the last quarter. Institutional investors own 33.26% of the company's stock.
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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