Franklin Resources Inc. Has $738,000 Position in Friedman Industries (FRD)
Franklin Resources Inc. boosted its position in Friedman Industries (NYSE:FRD) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 130,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Franklin Resources Inc. owned about 1.85% of Friedman Industries worth $738,000 as of its most recent filing with the Securities and Exchange Commission.
Separately, Leisure Capital Management lifted its holdings in Friedman Industries by 43.1% in the 2nd quarter. Leisure Capital Management now owns 24,145 shares of the company’s stock valued at $137,000 after purchasing an additional 7,276 shares in the last quarter.
Shares of Friedman Industries (FRD) opened at 6.18 on Tuesday. The stock’s market capitalization is $43.32 million. Friedman Industries has a one year low of $5.00 and a one year high of $7.29. The stock’s 50 day moving average is $5.75 and its 200-day moving average is $5.77.
Friedman Industries (NYSE:FRD) last issued its quarterly earnings results on Monday, August 14th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $23.08 million for the quarter. Friedman Industries had a return on equity of 1.13% and a net margin of 0.74%. On average, equities research analysts expect that Friedman Industries will post $1.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, October 12th.
Separately, TheStreet upgraded shares of Friedman Industries from a “d+” rating to a “c-” rating in a report on Tuesday, September 26th.
Friedman Industries Profile
Friedman Industries, Incorporated is engaged in steel processing, pipe manufacturing and processing and steel and pipe distribution. The Company has two product groups: coil and tubular products. It purchases prime hot-rolled steel coils, processes the coils into flat, finished sheet and plate, and sells these products on a wholesale, rapid-delivery basis in competition with steel mills, importers and steel service centers.
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