Wall Street Zen lowered shares of Friedman Industries (NASDAQ:FRD - Free Report) from a buy rating to a hold rating in a report released on Sunday morning.
Friedman Industries Stock Performance
Shares of NASDAQ:FRD traded down $0.46 during trading on Friday, reaching $16.00. 20,388 shares of the stock were exchanged, compared to its average volume of 18,219. Friedman Industries has a 1-year low of $12.24 and a 1-year high of $19.12. The stock has a fifty day moving average price of $16.48. The stock has a market capitalization of $112.96 million, a price-to-earnings ratio of 18.60 and a beta of 1.51.
Friedman Industries (NASDAQ:FRD - Get Free Report) last announced its quarterly earnings results on Thursday, June 12th. The company reported $0.76 EPS for the quarter. The business had revenue of $129.22 million during the quarter. Friedman Industries had a net margin of 1.37% and a return on equity of 4.70%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the stock. State of Wyoming bought a new position in Friedman Industries during the 1st quarter valued at $45,000. Jane Street Group LLC purchased a new stake in shares of Friedman Industries in the first quarter valued at about $174,000. Empowered Funds LLC raised its holdings in shares of 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 purchasing an additional 2,494 shares during the last quarter. Truffle Hound Capital LLC bought a new position in shares of Friedman Industries during the first quarter valued at about $1,562,000. Finally, Mink Brook Asset Management LLC lifted its position in shares of Friedman Industries by 0.5% during the first quarter. Mink Brook Asset Management LLC now owns 189,616 shares of the company's stock valued at $2,823,000 after purchasing an additional 952 shares in the last quarter. Institutional investors own 33.26% of the company's stock.
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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