Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.
Friedman Industries Trading Down 3.2 %
NYSEAMERICAN FRD opened at $15.50 on Monday. The firm has a market cap of $108.04 million, a PE ratio of 6.49 and a beta of 1.37. Friedman Industries has a 1-year low of $9.50 and a 1-year high of $19.52.
Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter. The company had revenue of $114.55 million for the quarter. Friedman Industries had a return on equity of 9.65% and a net margin of 2.48%.
Insider Transactions at Friedman Industries
Hedge Funds Weigh In On Friedman Industries
Several large investors have recently made changes to their positions in FRD. Hillsdale Investment Management Inc. purchased a new stake in shares of Friedman Industries during the first quarter worth about $131,000. LSV Asset Management purchased a new position in shares of Friedman Industries during the second quarter valued at about $343,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Friedman Industries in the first quarter worth about $425,000. Janney Montgomery Scott LLC lifted its position in shares of Friedman Industries by 17.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock worth $459,000 after buying an additional 4,377 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Friedman Industries by 8.0% during the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock valued at $577,000 after buying an additional 2,275 shares during the last quarter. 33.26% of the stock is currently owned by hedge funds and other institutional investors.
About Friedman Industries
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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