Friedman Industries (NASDAQ:FRD) Upgraded by Wall Street Zen to Strong-Buy Rating

Friedman Industries (NASDAQ:FRD) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

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

Friedman Industries Price Performance

Shares of NASDAQ:FRD traded down $0.24 during trading on Friday, hitting $19.41. 7,335 shares of the company were exchanged, compared to its average volume of 11,001. Friedman Industries has a 1-year low of $12.24 and a 1-year high of $23.50. The company has a market capitalization of $138.01 million, a P/E ratio of 11.98 and a beta of 1.54. The company has a quick ratio of 0.98, a current ratio of 3.24 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $19.99 and its 200-day moving average is $19.55.

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

Hedge Funds Weigh In On Friedman Industries

A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC lifted its stake in shares of Friedman Industries by 6.8% in 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. Jane Street Group LLC bought a new position in Friedman Industries during the 1st quarter worth approximately $174,000. Ritholtz Wealth Management lifted its position in shares of Friedman Industries by 92.3% in the 2nd quarter. Ritholtz Wealth Management now owns 21,363 shares of the company’s stock worth $354,000 after purchasing an additional 10,253 shares during the period. Geode Capital Management LLC boosted 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. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Friedman Industries during the second quarter worth $29,000. 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.