Friedman Industries (NASDAQ:FRD) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Friedman Industries (NASDAQ:FRD) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Friedman Industries in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Friedman Industries currently has a consensus rating of “Buy”.

Friedman Industries Stock Performance

NASDAQ FRD opened at $19.63 on Friday. The firm has a market capitalization of $139.57 million, a PE ratio of 12.12 and a beta of 1.54. The stock’s 50 day moving average is $19.90 and its 200 day moving average is $19.66. Friedman Industries has a twelve month low of $12.24 and a twelve month high of $23.50. The company has a quick ratio of 0.98, a current ratio of 3.24 and a debt-to-equity ratio of 0.03.

Friedman Industries (NASDAQ:FRD) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.32 earnings per share (EPS) 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 during the quarter.

Friedman Industries Dividend Announcement

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

Institutional Investors Weigh In On Friedman Industries

A number of institutional investors have recently made changes to their positions in FRD. Police & Firemen s Retirement System of New Jersey purchased a new position in Friedman Industries in the 2nd quarter worth approximately $29,000. BNP Paribas Financial Markets increased its holdings in shares of Friedman Industries by 50.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock worth $37,000 after purchasing an additional 576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Friedman Industries in the second quarter worth $60,000. New York State Common Retirement Fund bought a new position in shares of Friedman Industries during the second quarter valued at $103,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Friedman Industries by 760.0% during the second quarter. JPMorgan Chase & Co. now owns 6,364 shares of the company’s stock valued at $105,000 after buying an additional 5,624 shares during the last quarter. Hedge funds and other institutional investors own 33.26% of the company’s stock.

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.