Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Free Report) Director Joel Spira acquired 2,000 shares of the stock in a transaction on Tuesday, June 25th. The shares were acquired at an average price of $14.27 per share, for a total transaction of $28,540.00. Following the acquisition, the director now owns 16,504 shares of the company’s stock, valued at approximately $235,512.08. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Friedman Industries Price Performance
Shares of Friedman Industries stock opened at $15.10 on Friday. The company has a market capitalization of $105.25 million, a PE ratio of 6.32 and a beta of 1.34. Friedman Industries, Incorporated has a 52 week low of $9.50 and a 52 week high of $19.52.
Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last released its quarterly earnings results on Tuesday, June 11th. The company reported $0.71 EPS for the quarter. The business had revenue of $132.23 million during the quarter. Friedman Industries had a return on equity of 13.86% and a net margin of 3.36%.
Friedman Industries Announces Dividend
Hedge Funds Weigh In On Friedman Industries
Several hedge funds have recently modified their holdings of FRD. Gendell Jeffrey L grew its position in Friedman Industries by 16.4% during the first quarter. Gendell Jeffrey L now owns 435,666 shares of the company’s stock valued at $8,164,000 after buying an additional 61,339 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of Friedman Industries during the 1st quarter valued at approximately $425,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Friedman Industries during the 1st quarter worth approximately $131,000. Empowered Funds LLC raised its holdings in shares of Friedman Industries by 8.0% in the 1st quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after purchasing an additional 2,275 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in Friedman Industries by 9.6% in the first quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock valued at $610,000 after purchasing an additional 2,859 shares during the last quarter. Institutional investors own 33.26% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Friedman Industries from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 19th.
Friedman Industries Company Profile
Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils.
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