De Lisle Partners LLP Makes New Investment in Friedman Industries Inc. $FRD

De Lisle Partners LLP purchased a new position in shares of Friedman Industries Inc. (NASDAQ:FRD) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 404,845 shares of the company’s stock, valued at approximately $12,937,000. Friedman Industries accounts for about 1.4% of De Lisle Partners LLP’s portfolio, making the stock its 16th largest position. De Lisle Partners LLP owned approximately 5.61% of Friedman Industries as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets raised its position in Friedman Industries by 50.7% during the third quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock valued at $37,000 after purchasing an additional 576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Friedman Industries in the second quarter valued at about $60,000. New York State Common Retirement Fund bought a new stake in shares of Friedman Industries during the 2nd quarter valued at approximately $103,000. JPMorgan Chase & Co. increased its holdings in shares of Friedman Industries by 760.0% during the second quarter. JPMorgan Chase & Co. now owns 6,364 shares of the company’s stock worth $105,000 after buying an additional 5,624 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Friedman Industries in the 1st quarter worth about $174,000. Institutional investors and hedge funds own 33.26% of the company’s stock.

Friedman Industries Price Performance

Friedman Industries stock opened at $41.71 on Friday. The stock has a market capitalization of $300.73 million, a price-to-earnings ratio of 10.86 and a beta of 1.57. Friedman Industries Inc. has a 52-week low of $16.55 and a 52-week high of $48.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 2.90. The stock’s 50 day moving average price is $36.77 and its two-hundred day moving average price is $25.88.

Friedman Industries (NASDAQ:FRD) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter. Friedman Industries had a net margin of 3.63% and a return on equity of 18.29%. The company had revenue of $239.97 million during the quarter.

Friedman Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 17th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, July 17th. Friedman Industries’s payout ratio is 4.17%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Friedman Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Friedman Industries currently has an average rating of “Buy”.

About Friedman Industries

Friedman Industries, Inc is a specialized manufacturer of high-quality steel grating products for industrial and commercial applications. The company’s core offerings include industrial bar gratings, stair treads, trench covers, checkered plates and lighting frames. These products are designed to meet stringent safety and durability requirements in sectors such as oil and gas, power generation, wastewater treatment and infrastructure development.

Friedman Industries serves a broad customer base across North America, providing both standard and custom solutions through its manufacturing facilities in Pennsylvania and California.