Mink Brook Asset Management LLC Decreases Stock Holdings in Friedman Industries Inc. $FRD

Mink Brook Asset Management LLC decreased its stake in shares of Friedman Industries Inc. (NASDAQ:FRD) by 24.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,169 shares of the company’s stock after selling 47,880 shares during the period. Friedman Industries comprises 2.2% of Mink Brook Asset Management LLC’s portfolio, making the stock its 13th largest holding. Mink Brook Asset Management LLC owned about 2.13% of Friedman Industries worth $3,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FRD. Vanguard Group Inc. raised its stake in Friedman Industries by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 361,407 shares of the company’s stock valued at $7,913,000 after buying an additional 4,437 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Friedman Industries by 110.4% in 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 grew its holdings in shares of Friedman Industries by 43.0% in 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 during the period. Empowered Funds LLC increased its position in Friedman Industries by 6.8% during the first quarter. Empowered Funds LLC now owns 39,123 shares of the company’s stock valued at $583,000 after acquiring an additional 2,494 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position in Friedman Industries by 70.4% during the third quarter. Ritholtz Wealth Management now owns 36,401 shares of the company’s stock valued at $797,000 after acquiring an additional 15,038 shares during the last quarter. Institutional investors own 33.26% of the company’s stock.

Friedman Industries Trading Up 1.4%

Shares of Friedman Industries stock opened at $17.24 on Tuesday. Friedman Industries Inc. has a 1-year low of $12.24 and a 1-year high of $24.37. The company’s fifty day simple moving average is $19.15 and its 200-day simple moving average is $20.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.59 and a quick ratio of 0.97. The stock has a market capitalization of $122.58 million, a PE ratio of 7.77 and a beta of 1.55.

Friedman Industries (NASDAQ:FRD) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.43 EPS for the quarter. Friedman Industries had a return on equity of 11.36% and a net margin of 2.68%.The firm had revenue of $167.97 million during the quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FRD. Weiss Ratings downgraded Friedman Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, March 11th. Wall Street Zen lowered shares of Friedman Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Friedman Industries presently has an average rating of “Hold”.

Friedman Industries 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.