Friedman Industries (NASDAQ:FRD) Shares Down 1.3% – Time to Sell?

Shares of Friedman Industries Inc. (NASDAQ:FRD) fell 1.3% during mid-day trading on Thursday . The company traded as low as $34.27 and last traded at $35.02. 49,667 shares traded hands during trading, a decline of 51% from the average session volume of 101,817 shares. The stock had previously closed at $35.47.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised 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, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Friedman Industries Stock Performance

The firm has a market capitalization of $248.99 million, a PE ratio of 12.69 and a beta of 1.56. The company has a quick ratio of 1.11, a current ratio of 3.38 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $28.63 and a 200 day moving average of $22.42.

Friedman Industries (NASDAQ:FRD) last released its quarterly earnings results on Thursday, June 11th. The company reported $1.30 earnings per share for the quarter. The firm had revenue of $191.78 million for the quarter. Friedman Industries had a return on equity of 13.70% and a net margin of 3.02%.

Friedman Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 17th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, July 17th. Friedman Industries’s dividend payout ratio is 5.80%.

Institutional Investors Weigh In On Friedman Industries

A number of large investors have recently added to or reduced their stakes 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 worth $37,000 after buying an additional 576 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Friedman Industries during the 2nd quarter valued at $60,000. New York State Common Retirement Fund purchased a new position in shares of Friedman Industries in the second quarter valued at about $103,000. JPMorgan Chase & Co. increased its position in shares of Friedman Industries by 760.0% in the second quarter. JPMorgan Chase & Co. now owns 6,364 shares of the company’s stock valued at $105,000 after acquiring an additional 5,624 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of Friedman Industries during the first quarter valued at about $174,000. Hedge funds and other institutional investors own 33.26% of the company’s stock.

About Friedman Industries

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.