Friedman Industries (NASDAQ:FRD) Posts Quarterly Earnings Results

Friedman Industries (NASDAQ:FRDGet Free Report) announced its earnings results on Thursday. The company reported $1.79 earnings per share (EPS) for the quarter, FiscalAI reports. Friedman Industries had a net margin of 3.02% and a return on equity of 13.70%. The firm had revenue of $239.97 million for the quarter.

Friedman Industries Trading Up 2.2%

NASDAQ FRD opened at $37.72 on Friday. Friedman Industries has a one year low of $15.13 and a one year high of $39.07. 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 company has a market capitalization of $271.96 million, a price-to-earnings ratio of 13.67 and a beta of 1.57. The company’s 50-day simple moving average is $32.62 and its two-hundred day simple moving average is $23.98.

Friedman Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 17th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.4%. Friedman Industries’s dividend payout ratio (DPR) is 5.80%.

Hedge Funds Weigh In On Friedman Industries

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in Friedman Industries by 50.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock worth $37,000 after purchasing an additional 576 shares during the last quarter. Bailard Inc. grew its stake in Friedman Industries by 4.9% during the 4th quarter. Bailard Inc. now owns 13,324 shares of the company’s stock valued at $273,000 after purchasing an additional 624 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Friedman Industries by 1.8% in the fourth quarter. Empowered Funds LLC now owns 47,034 shares of the company’s stock valued at $964,000 after purchasing an additional 811 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Friedman Industries by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 59,033 shares of the company’s stock worth $1,046,000 after purchasing an additional 1,036 shares during the period. Finally, Barclays PLC boosted its position in Friedman Industries by 9.4% in the fourth quarter. Barclays PLC now owns 13,071 shares of the company’s stock valued at $268,000 after buying an additional 1,119 shares during the last quarter. 33.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Friedman Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

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Friedman Industries Company Profile

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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.

See Also

Earnings History for Friedman Industries (NASDAQ:FRD)

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