Friedman Industries (NASDAQ:FRD) Issues Quarterly Earnings Results

Friedman Industries (NASDAQ:FRD) released 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 Stock Down 1.9%

Shares of NASDAQ FRD traded down $0.39 during midday trading on Monday, reaching $19.75. 17,363 shares of the company’s stock were exchanged, compared to its average volume of 14,668. 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’s fifty day moving average price is $19.96 and its two-hundred day moving average price is $19.85. The stock has a market capitalization of $140.46 million, a PE ratio of 12.19 and a beta of 1.55. Friedman Industries has a 52-week low of $12.24 and a 52-week high of $23.50.

Friedman Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

FRD has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Friedman Industries in a research note on Monday, December 29th. Wall Street Zen cut 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, According to MarketBeat.com, Friedman Industries currently has an average rating of “Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Friedman Industries by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 361,407 shares of the company’s stock worth $7,913,000 after acquiring an additional 4,437 shares during the last quarter. Mink Brook Asset Management LLC lifted its position in shares of Friedman Industries by 5.0% in the 2nd quarter. Mink Brook Asset Management LLC now owns 199,049 shares of the company’s stock worth $3,296,000 after acquiring an additional 9,433 shares during the period. Geode Capital Management LLC increased its holdings in Friedman Industries by 110.4% in the 2nd quarter. Geode Capital Management LLC now owns 157,246 shares of the company’s stock valued at $2,605,000 after buying an additional 82,504 shares during the period. Empowered Funds LLC increased its stake in Friedman Industries by 6.8% in the first quarter. Empowered Funds LLC now owns 39,123 shares of the company’s stock valued at $583,000 after acquiring an additional 2,494 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Friedman Industries by 21,620.0% in the 2nd quarter. Bank of America Corp DE now owns 13,032 shares of the company’s stock valued at $216,000 after purchasing an additional 12,972 shares during the period. 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.