Friedman Industries (NASDAQ:FRD) Stock Rating Upgraded by Wall Street Zen

Friedman Industries (NASDAQ:FRD) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Friedman Industries Stock Performance

NASDAQ FRD opened at $16.69 on Friday. Friedman Industries has a 12 month low of $12.24 and a 12 month high of $19.12. The company has a market capitalization of $116.33 million, a P/E ratio of 19.41 and a beta of 1.51.

Friedman Industries (NASDAQ:FRD) last released its earnings results on Thursday, June 12th. The company reported $0.76 EPS for the quarter. The company had revenue of $129.22 million during the quarter.

Institutional Investors Weigh In On Friedman Industries

Several large investors have recently made changes to their positions in the company. State of Wyoming purchased a new position in Friedman Industries during the 1st quarter valued at approximately $45,000. Jane Street Group LLC bought a new position in shares of Friedman Industries during the 1st quarter valued at approximately $174,000. Empowered Funds LLC grew 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 in the last quarter. Truffle Hound Capital LLC bought a new stake in Friedman Industries in the first quarter worth $1,562,000. Finally, Mink Brook Asset Management LLC raised its stake in 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. 33.26% of the stock is owned by institutional investors.

Friedman Industries Company Profile

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.