Wall Street Zen Downgrades Friedman Industries (NASDAQ:FRD) to Buy

Friedman Industries (NASDAQ:FRD) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Friedman Industries in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Friedman Industries Price Performance

FRD stock opened at $19.63 on Friday. The firm has a 50 day moving average of $19.90 and a 200-day moving average of $19.64. The company has a current ratio of 3.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.03. Friedman Industries has a 12 month low of $12.24 and a 12 month high of $23.50. The firm has a market capitalization of $139.61 million, a P/E ratio of 12.12 and a beta of 1.54.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Police & Firemen s Retirement System of New Jersey purchased a new stake in Friedman Industries during the second quarter valued at about $29,000. BNP Paribas Financial Markets increased its position in shares of Friedman Industries by 50.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock valued at $37,000 after purchasing an additional 576 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Friedman Industries during the 2nd quarter valued at about $60,000. New York State Common Retirement Fund purchased a new position in shares of Friedman Industries during the 2nd quarter valued at about $103,000. Finally, JPMorgan Chase & Co. lifted its position in Friedman Industries by 760.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,364 shares of the company’s stock worth $105,000 after buying an additional 5,624 shares during the last quarter. 33.26% of the stock is currently owned by hedge funds and other 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.