Friedman Industries (NASDAQ:FRD - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.
Friedman Industries Price Performance
FRD stock opened at $16.71 on Friday. The stock has a market capitalization of $117.97 million, a PE ratio of 19.43 and a beta of 1.51. Friedman Industries has a 12 month low of $12.24 and a 12 month high of $19.12.
Friedman Industries (NASDAQ:FRD - Get Free Report) last posted 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 net margin of 1.37% and a return on equity of 4.70%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in FRD. Truffle Hound Capital LLC bought a new position in Friedman Industries in the 1st quarter valued at approximately $1,562,000. Mink Brook Asset Management LLC raised its holdings in 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. State of Wyoming bought a new position in Friedman Industries in the 1st quarter valued at approximately $45,000. Empowered Funds LLC raised its holdings in Friedman Industries by 6.8% in the 1st quarter. Empowered Funds LLC now owns 39,123 shares of the company's stock valued at $583,000 after buying an additional 2,494 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Friedman Industries in the 1st quarter valued at approximately $174,000. Institutional investors own 33.26% of the company's stock.
About Friedman Industries
(
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.
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