Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $17.18. Friedman Industries shares last traded at $17.02, with a volume of 26,339 shares traded.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen cut shares of Friedman Industries from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th.
Get Our Latest Analysis on Friedman Industries
Friedman Industries Stock Down 2.8%
The stock's 50-day moving average is $16.46. The company has a market capitalization of $115.35 million, a PE ratio of 20.43 and a beta of 1.40.
Institutional Trading of Friedman Industries
A number of hedge funds have recently made changes to their positions in FRD. Bridgeway Capital Management LLC raised its stake in Friedman Industries by 0.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 157,850 shares of the company's stock worth $2,414,000 after purchasing an additional 651 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Friedman Industries in the 4th quarter worth about $28,000. Northern Trust Corp raised its stake in Friedman Industries by 38.1% in the 4th quarter. Northern Trust Corp now owns 26,511 shares of the company's stock worth $405,000 after purchasing an additional 7,320 shares in the last quarter. LSV Asset Management raised its stake in Friedman Industries by 21.1% in the 4th quarter. LSV Asset Management now owns 72,700 shares of the company's stock worth $1,112,000 after purchasing an additional 12,663 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC acquired a new stake in Friedman Industries in the 4th quarter worth about $204,000. 33.26% of the stock is owned by institutional investors and hedge funds.
Friedman Industries Company Profile
(
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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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