Friedman Industries (NASDAQ:FRD) Posts Earnings Results

Friedman Industries (NASDAQ:FRD) released its quarterly earnings results on Thursday. The company reported $0.76 EPS for the quarter, Zacks reports.

Friedman Industries Price Performance

NASDAQ FRD opened at $17.00 on Friday. The firm has a market cap of $118.49 million, a PE ratio of 20.99 and a beta of 1.51. Friedman Industries has a twelve month low of $12.24 and a twelve month high of $19.12.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Friedman Industries from a “hold” rating to a “buy” rating in a research report on Monday, May 5th.

Institutional Trading of Friedman Industries

A hedge fund recently bought a new stake in Friedman Industries stock. Jane Street Group LLC bought a new position in shares of Friedman Industries Inc (NASDAQ:FRD) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,686 shares of the company’s stock, valued at approximately $174,000. Jane Street Group LLC owned 0.17% of Friedman Industries at the end of the most recent reporting period. Institutional investors and hedge funds own 33.26% of the company’s stock.

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.