Friedman Industries (NASDAQ:FRD) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Friedman Industries (NASDAQ:FRD) from a buy rating to a strong-buy rating in a report issued on Friday.

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Friedman Industries in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Friedman Industries presently has a consensus rating of “Buy”.

Friedman Industries Trading Down 1.2%

Shares of FRD opened at $19.41 on Friday. The firm has a market cap of $138.01 million, a P/E ratio of 11.98 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 0.98. Friedman Industries has a 1 year low of $12.24 and a 1 year high of $23.50. The company has a 50 day simple moving average of $19.99 and a two-hundred day simple moving average of $19.55.

Friedman Industries (NASDAQ:FRD) last issued its earnings results on Monday, November 10th. The company reported $0.32 earnings per share for the quarter. The firm had revenue of $152.38 million during the quarter. Friedman Industries had a net margin of 2.25% and a return on equity of 8.55%.

Friedman Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 16th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, January 16th. This represents a $0.16 annualized dividend and a yield of 0.8%. Friedman Industries’s dividend payout ratio (DPR) is 9.88%.

Institutional Trading of Friedman Industries

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Friedman Industries by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 361,407 shares of the company’s stock valued at $7,913,000 after acquiring an additional 4,437 shares during the last quarter. Mink Brook Asset Management LLC raised its position in Friedman Industries by 5.0% during the second quarter. Mink Brook Asset Management LLC now owns 199,049 shares of the company’s stock valued at $3,296,000 after purchasing an additional 9,433 shares during the period. Geode Capital Management LLC lifted 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 valued at $2,605,000 after purchasing an additional 82,504 shares during the last quarter. Truffle Hound Capital LLC boosted its holdings in shares of Friedman Industries by 43.0% in the 2nd quarter. Truffle Hound Capital LLC now owns 150,000 shares of the company’s stock worth $2,484,000 after purchasing an additional 45,082 shares during the period. Finally, Ritholtz Wealth Management increased its position in shares of Friedman Industries by 14.2% during the 4th quarter. Ritholtz Wealth Management now owns 41,580 shares of the company’s stock valued at $852,000 after purchasing an additional 5,179 shares during the last quarter. 33.26% of the stock is currently owned by institutional investors.

About Friedman Industries

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.