FRP (NASDAQ:FRPH) Releases Quarterly Earnings Results

FRP (NASDAQ:FRPH) announced its quarterly earnings results on Tuesday. The financial services provider reported ($0.01) earnings per share for the quarter, Zacks reports. FRP had a net margin of 2.16% and a return on equity of 0.29%.

FRP Price Performance

NASDAQ FRPH traded down $0.10 on Tuesday, reaching $22.46. 107,166 shares of the company’s stock traded hands, compared to its average volume of 65,397. The stock has a market cap of $430.56 million, a PE ratio of 561.64 and a beta of 0.51. FRP has a 12 month low of $20.53 and a 12 month high of $26.99. The stock has a 50-day simple moving average of $23.84 and a 200 day simple moving average of $23.13.

Wall Street Analysts Forecast Growth

FRPH has been the topic of a number of analyst reports. Wall Street Zen raised shares of FRP from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (d)” rating on shares of FRP in a research report on Tuesday, July 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, FRP has a consensus rating of “Sell”.

Hedge Funds Weigh In On FRP

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its holdings in shares of FRP by 59.6% in the first quarter. Goldman Sachs Group Inc. now owns 120,192 shares of the financial services provider’s stock worth $3,434,000 after buying an additional 44,874 shares during the period. Strs Ohio purchased a new position in FRP in the 1st quarter worth approximately $74,000. Legal & General Group Plc lifted its position in FRP by 4.6% in the second quarter. Legal & General Group Plc now owns 11,715 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 510 shares during the last quarter. Franklin Resources Inc. lifted its position in FRP by 27.2% in the second quarter. Franklin Resources Inc. now owns 9,499 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 2,034 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of FRP by 21.4% during the second quarter. Rhumbline Advisers now owns 23,338 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 4,117 shares during the period. Hedge funds and other institutional investors own 45.42% of the company’s stock.

About FRP

FRP Holdings, Inc (NASDAQ: FRPH) is an industrial services holding company that provides asset integrity and life-extension solutions to heavy-industry clients. Through its operating subsidiaries, FRP offers a broad suite of non-destructive testing (NDT), inspection services, mechanical maintenance, protective coatings, thermal spray and surface-preparation services. These offerings help clients maintain and extend the service life of critical equipment and infrastructure across multiple sectors.

The company’s core activities include ultrasonic, radiographic and magnetic-particle testing, site-based inspections, welding and fabrication support, and specialized coating applications designed to withstand extreme environments.