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 “buy” rating to a “strong-buy” rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Friedman Industries in a research report on Monday, November 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Friedman Industries Price Performance

NASDAQ FRD opened at $19.52 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.98 and a current ratio of 3.24. The company has a market cap of $138.79 million, a PE ratio of 12.05 and a beta of 1.55. The firm’s 50 day moving average price is $20.59 and its 200-day moving average price is $18.66. Friedman Industries has a 52-week low of $12.24 and a 52-week high of $23.50.

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 firm had revenue of $152.38 million during the quarter.

Institutional Investors Weigh In On Friedman Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mink Brook Asset Management LLC boosted its stake in Friedman Industries by 0.5% in the first quarter. Mink Brook Asset Management LLC now owns 189,616 shares of the company’s stock valued at $2,823,000 after acquiring an additional 952 shares in the last quarter. State of Wyoming purchased a new stake in shares of Friedman Industries in the 1st quarter valued at about $45,000. Empowered Funds LLC boosted its position in shares of Friedman Industries by 6.8% in the 1st 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 during the period. Jane Street Group LLC purchased a new position in Friedman Industries during the 1st quarter worth approximately $174,000. Finally, Ritholtz Wealth Management increased its position in Friedman Industries by 92.3% during the second quarter. Ritholtz Wealth Management now owns 21,363 shares of the company’s stock worth $354,000 after buying an additional 10,253 shares during the period. 33.26% of the stock is currently owned by institutional investors and hedge funds.

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.