Friedman Industries (NYSEAMERICAN:FRD) Upgraded at StockNews.com

Friedman Industries (NYSEAMERICAN:FRD) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Monday.

Friedman Industries Stock Performance

NYSEAMERICAN FRD opened at $15.03 on Monday. The firm has a market cap of $104.76 million, a PE ratio of 6.29 and a beta of 1.37. Friedman Industries has a 52 week low of $9.50 and a 52 week high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter. The business had revenue of $114.55 million for the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%.

Insider Activity

In other Friedman Industries news, Director Joel Spira purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were purchased at an average price of $14.27 per share, for a total transaction of $28,540.00. Following the completion of the transaction, the director now owns 16,504 shares in the company, valued at approximately $235,512.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Friedman Industries news, Director Joe L. Williams acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was purchased at an average cost of $14.34 per share, for a total transaction of $43,020.00. Following the transaction, the director now owns 31,574 shares of the company’s stock, valued at approximately $452,771.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joel Spira bought 2,000 shares of the stock in a transaction on Tuesday, June 25th. The shares were acquired at an average cost of $14.27 per share, for a total transaction of $28,540.00. Following the purchase, the director now owns 16,504 shares in the company, valued at $235,512.08. The disclosure for this purchase can be found here. Insiders purchased 16,365 shares of company stock worth $235,301 over the last three months. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Friedman Industries

Several institutional investors have recently made changes to their positions in FRD. Hillsdale Investment Management Inc. acquired a new stake in Friedman Industries during the first quarter valued at $131,000. LSV Asset Management acquired a new stake in shares of Friedman Industries during the 2nd quarter valued at about $343,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Friedman Industries in the 1st quarter valued at approximately $425,000. Janney Montgomery Scott LLC increased its holdings in 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 during the last quarter. Finally, Empowered Funds LLC raised its position 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 acquiring an additional 2,275 shares in the last quarter. 33.26% of the stock is currently owned by institutional investors and hedge funds.

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.