Friedman Industries (NASDAQ:FRD) Cut to “Buy” at Wall Street Zen

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

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

Friedman Industries Stock Up 4.4%

Shares of NASDAQ FRD opened at $20.50 on Friday. Friedman Industries has a 52-week low of $12.24 and a 52-week high of $23.50. 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 fifty day moving average of $19.93 and a two-hundred day moving average of $19.72. The stock has a market cap of $145.80 million, a PE ratio of 12.65 and a beta of 1.54.

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

Friedman Industries Dividend Announcement

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

Hedge Funds Weigh In On Friedman Industries

Several large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in 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 acquiring an additional 576 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Friedman Industries during the 2nd quarter valued at about $29,000. Empowered Funds LLC boosted its stake in shares of Friedman Industries by 6.8% in the 1st quarter. Empowered Funds LLC now owns 39,123 shares of the company’s stock valued at $583,000 after purchasing an additional 2,494 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Friedman Industries during the 2nd quarter worth approximately $60,000. Finally, Vanguard Group Inc. raised its stake in shares of Friedman Industries by 1.2% during the third 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 last quarter. Institutional investors and hedge funds 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.