Mink Brook Asset Management LLC Sells 47,880 Shares of Friedman Industries Inc. $FRD

Mink Brook Asset Management LLC trimmed its position in Friedman Industries Inc. (NASDAQ:FRD) by 24.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 151,169 shares of the company’s stock after selling 47,880 shares during the quarter. Friedman Industries makes up about 2.2% of Mink Brook Asset Management LLC’s holdings, making the stock its 13th largest holding. Mink Brook Asset Management LLC’s holdings in Friedman Industries were worth $3,310,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in FRD. Truffle Hound Capital LLC boosted its position in shares of Friedman Industries by 43.0% in the second 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. JPMorgan Chase & Co. boosted its holdings in Friedman Industries by 80.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,465 shares of the company’s stock worth $251,000 after buying an additional 5,101 shares during the period. Vanguard Group Inc. boosted its holdings in Friedman Industries by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 361,407 shares of the company’s stock worth $7,913,000 after buying an additional 4,437 shares during the period. Geode Capital Management LLC increased its stake in Friedman Industries by 110.4% in the 2nd quarter. Geode Capital Management LLC now owns 157,246 shares of the company’s stock worth $2,605,000 after buying an additional 82,504 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Friedman Industries by 6.8% during the first quarter. Empowered Funds LLC now owns 39,123 shares of the company’s stock valued at $583,000 after acquiring an additional 2,494 shares during the period. Hedge funds and other institutional investors own 33.26% of the company’s stock.

Friedman Industries Trading Up 1.4%

Shares of NASDAQ FRD opened at $17.24 on Tuesday. Friedman Industries Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $24.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 3.59. The company has a market cap of $122.58 million, a price-to-earnings ratio of 7.77 and a beta of 1.55. The business’s 50 day moving average price is $19.15 and its 200-day moving average price is $20.22.

Friedman Industries (NASDAQ:FRD) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.43 earnings per share (EPS) for the quarter. The company had revenue of $167.97 million during the quarter. Friedman Industries had a return on equity of 11.36% and a net margin of 2.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FRD. Weiss Ratings lowered Friedman Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, March 11th. Wall Street Zen downgraded Friedman Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Friedman Industries has a consensus rating of “Hold”.

Friedman Industries Profile

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.