De Lisle Partners LLP Acquires Shares of 404,845 Friedman Industries Inc. $FRD

De Lisle Partners LLP bought a new position in Friedman Industries Inc. (NASDAQ:FRD) during the second quarter, HoldingsChannel reports. The firm bought 404,845 shares of the company’s stock, valued at approximately $12,937,000. Friedman Industries accounts for approximately 1.4% of De Lisle Partners LLP’s holdings, making the stock its 16th biggest position. De Lisle Partners LLP owned 0.06% of Friedman Industries as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in Friedman Industries by 50.7% during the third quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock worth $37,000 after buying an additional 576 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Friedman Industries during the second quarter valued at about $60,000. New York State Common Retirement Fund acquired a new position in shares of Friedman Industries during the second quarter valued at about $103,000. JPMorgan Chase & Co. increased 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 worth $105,000 after acquiring an additional 5,624 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Friedman Industries during the first quarter worth about $174,000. Institutional investors and hedge funds own 33.26% of the company’s stock.

Friedman Industries Trading Down 2.0%

Shares of Friedman Industries stock opened at $41.71 on Friday. The company has a market capitalization of $300.73 million, a P/E ratio of 10.86 and a beta of 1.57. The stock has a fifty day simple moving average of $36.77 and a 200 day simple moving average of $25.88. Friedman Industries Inc. has a 12-month low of $16.55 and a 12-month high of $48.77. The company has a current ratio of 2.90, a quick ratio of 1.00 and a debt-to-equity ratio of 0.02.

Friedman Industries (NASDAQ:FRD) last announced its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter. Friedman Industries had a net margin of 3.63% and a return on equity of 18.29%. The company had revenue of $239.97 million during the quarter.

Friedman Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 17th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, July 17th. Friedman Industries’s dividend payout ratio is presently 4.17%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Friedman Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Friedman Industries Company 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.