Friedman Industries (NASDAQ:FRD) Rating Increased to Strong-Buy at Wall Street Zen

Friedman Industries (NASDAQ:FRD) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Friedman Industries in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

Friedman Industries Price Performance

Shares of NASDAQ:FRD traded down $0.24 during trading on Friday, reaching $19.41. The stock had a trading volume of 7,335 shares, compared to its average volume of 11,001. The stock has a market capitalization of $138.01 million, a PE ratio of 11.98 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 0.98. Friedman Industries has a 52 week low of $12.24 and a 52 week high of $23.50. The business’s 50-day moving average price is $19.99 and its 200 day moving average price is $19.55.

Friedman Industries (NASDAQ:FRD) last released its quarterly earnings results on Monday, November 10th. The company reported $0.32 EPS for the quarter. Friedman Industries had a return on equity of 8.55% and a net margin of 2.25%.The business had revenue of $152.38 million for the quarter.

Hedge Funds Weigh In On Friedman Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRD. Geode Capital Management LLC lifted its position in shares of Friedman Industries by 110.4% during the 2nd quarter. Geode Capital Management LLC now owns 157,246 shares of the company’s stock worth $2,605,000 after buying an additional 82,504 shares during the last quarter. Truffle Hound Capital LLC raised its stake in Friedman Industries by 43.0% during the second quarter. Truffle Hound Capital LLC now owns 150,000 shares of the company’s stock worth $2,484,000 after acquiring an additional 45,082 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Friedman Industries in the third quarter worth about $595,000. Ritholtz Wealth Management lifted its holdings in shares of Friedman Industries by 70.4% in the third quarter. Ritholtz Wealth Management now owns 36,401 shares of the company’s stock worth $797,000 after acquiring an additional 15,038 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Friedman Industries by 21,620.0% in the 2nd quarter. Bank of America Corp DE now owns 13,032 shares of the company’s stock valued at $216,000 after purchasing an additional 12,972 shares in the last quarter. 33.26% of the stock is owned by institutional investors and hedge funds.

Friedman Industries Company Profile

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.