Friedman Industries (NASDAQ:FRD) Stock Price Up 16.4% – Should You Buy?

Friedman Industries Inc. (NASDAQ:FRD)’s share price was up 16.4% during trading on Friday . The company traded as high as $45.88 and last traded at $43.91. 288,399 shares traded hands during trading, an increase of 240% from the average daily volume of 84,762 shares. The stock had previously closed at $37.72.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Friedman Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Friedman Industries Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.11 and a current ratio of 3.38. The business’s 50-day moving average is $33.04 and its 200-day moving average is $24.12. The company has a market capitalization of $316.72 million, a PE ratio of 11.43 and a beta of 1.57.

Friedman Industries (NASDAQ:FRD) last announced its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter. The business had revenue of $239.97 million during the quarter. Friedman Industries had a net margin of 3.63% and a return on equity of 18.92%.

Friedman Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 17th were paid a $0.04 dividend. The ex-dividend date was Friday, July 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Friedman Industries’s payout ratio is presently 4.17%.

Institutional Investors Weigh In On Friedman Industries

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its position in Friedman Industries by 50.7% in the 3rd 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 in the last quarter. Bailard Inc. increased its holdings in Friedman Industries by 4.9% in the 4th quarter. Bailard Inc. now owns 13,324 shares of the company’s stock worth $273,000 after buying an additional 624 shares in the last quarter. Empowered Funds LLC lifted its stake in Friedman Industries by 1.8% during the 4th quarter. Empowered Funds LLC now owns 47,034 shares of the company’s stock valued at $964,000 after acquiring an additional 811 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Friedman Industries by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 59,033 shares of the company’s stock valued at $1,046,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Barclays PLC lifted its position in Friedman Industries by 9.4% during the fourth quarter. Barclays PLC now owns 13,071 shares of the company’s stock valued at $268,000 after purchasing an additional 1,119 shares during the period. Hedge funds and other institutional investors own 33.26% of the company’s stock.

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.