Friedman Industries (NASDAQ:FRD) Announces Quarterly Earnings Results

Friedman Industries (NASDAQ:FRD) issued its quarterly earnings data on Monday. The company reported $0.43 earnings per share (EPS) for the quarter, Zacks reports. Friedman Industries had a return on equity of 8.55% and a net margin of 2.25%.

Friedman Industries Trading Down 1.9%

Shares of NASDAQ FRD traded down $0.39 during midday trading on Monday, reaching $19.75. The company had a trading volume of 17,293 shares, compared to its average volume of 14,668. Friedman Industries has a one year low of $12.24 and a one year 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. The firm’s fifty day moving average price is $19.96 and its 200-day moving average price is $19.85. The stock has a market cap of $140.46 million, a PE ratio of 12.19 and a beta of 1.55.

Friedman Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 16th will be issued a $0.04 dividend. The ex-dividend date is Friday, January 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.8%. Friedman Industries’s payout ratio is currently 9.88%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FRD. Weiss Ratings reissued a “buy (b-)” rating on shares of Friedman Industries in a report on Monday, December 29th. Wall Street Zen cut shares of Friedman Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Friedman Industries currently has an average rating of “Buy”.

Hedge Funds Weigh In On Friedman Industries

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its stake in shares of Friedman Industries by 50.7% during 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 during the period. 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 stake in Friedman Industries during the 2nd quarter valued at $103,000. JPMorgan Chase & Co. boosted its position in Friedman Industries by 760.0% during the 2nd 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 period. Finally, NewEdge Advisors LLC boosted its position in Friedman Industries by 14,241.1% during the 3rd quarter. NewEdge Advisors LLC now owns 10,469 shares of the company’s stock valued at $229,000 after buying an additional 10,396 shares during the period. 33.26% of the stock is owned by hedge funds and other institutional investors.

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.