Friedman Industries (NASDAQ:FRD) Upgraded at 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 report issued on Saturday.

Friedman Industries Trading Down 1.8%

Shares of NASDAQ FRD opened at $16.69 on Friday. Friedman Industries has a fifty-two week low of $12.24 and a fifty-two week high of $19.12. The company has a market capitalization of $116.33 million, a P/E ratio of 20.60 and a beta of 1.51.

Friedman Industries (NASDAQ:FRD) last announced its quarterly earnings data on Thursday, June 12th. The company reported $0.76 earnings per share for the quarter. The business had revenue of $129.22 million during the quarter.

Institutional Investors Weigh In On Friedman Industries

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in shares of Friedman Industries during the first quarter worth $174,000. Empowered Funds LLC raised its holdings in shares of Friedman Industries by 6.8% during the first quarter. Empowered Funds LLC now owns 39,123 shares of the company’s stock worth $583,000 after acquiring an additional 2,494 shares during the period. State of Wyoming acquired a new stake in shares of Friedman Industries during the first quarter worth $45,000. Mink Brook Asset Management LLC raised its holdings in shares of Friedman Industries by 0.5% during the first quarter. Mink Brook Asset Management LLC now owns 189,616 shares of the company’s stock worth $2,823,000 after acquiring an additional 952 shares during the period. Finally, Truffle Hound Capital LLC acquired a new stake in shares of Friedman Industries during the first quarter worth $1,562,000. 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.