Friedman Industries (NASDAQ:FRD) Stock Rating Lowered by Wall Street Zen

Friedman Industries (NASDAQ:FRD) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Friedman Industries in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Friedman Industries Price Performance

FRD opened at $19.63 on Friday. The firm has a market cap of $139.57 million, a P/E ratio of 12.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.98 and a current ratio of 3.24. The business has a 50 day moving average price of $19.90 and a 200 day moving average price of $19.69. Friedman Industries has a twelve month low of $12.24 and a twelve month high of $23.50.

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

Institutional Investors Weigh In On Friedman Industries

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Friedman Industries by 50.7% in the third quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock valued at $37,000 after purchasing an additional 576 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in Friedman Industries in the second quarter valued at approximately $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Friedman Industries during the 2nd quarter valued at $60,000. Hillsdale Investment Management Inc. bought a new stake in shares of Friedman Industries during the 3rd quarter worth about $123,000. Finally, New York State Common Retirement Fund bought a new position in shares of Friedman Industries during the second quarter worth approximately $103,000. 33.26% of the stock is owned by institutional investors and hedge funds.

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.