LSV Asset Management Has $133,000 Stake in Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

LSV Asset Management trimmed its holdings in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 68.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,500 shares of the company’s stock after selling 35,902 shares during the period. LSV Asset Management owned 0.24% of Friedman Industries worth $133,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. HHM Wealth Advisors LLC increased its holdings in Friedman Industries by 34.8% during the 1st quarter. HHM Wealth Advisors LLC now owns 99,404 shares of the company’s stock valued at $804,000 after purchasing an additional 25,653 shares in the last quarter. Callahan Advisors LLC increased its stake in shares of Friedman Industries by 4.4% in the 1st quarter. Callahan Advisors LLC now owns 65,782 shares of the company’s stock valued at $532,000 after buying an additional 2,782 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Friedman Industries by 4.7% in the 4th quarter. Renaissance Technologies LLC now owns 543,752 shares of the company’s stock valued at $3,730,000 after buying an additional 24,513 shares during the period. 32.80% of the stock is owned by hedge funds and other institutional investors.

NYSEAMERICAN FRD opened at $10.24 on Monday. The company has a fifty day moving average price of $6.65. The firm has a market cap of $70.72 million, a PE ratio of -14.22 and a beta of 0.77. Friedman Industries, Incorporated has a 52 week low of $4.26 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.00 and a quick ratio of 4.92.

Friedman Industries (NYSEAMERICAN:FRD) last released its earnings results on Monday, February 22nd. The company reported $0.30 EPS for the quarter. The company had revenue of $28.50 million during the quarter. Friedman Industries had a negative return on equity of 2.36% and a negative net margin of 4.57%.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 21st. Stockholders of record on Friday, April 23rd will be paid a $0.02 dividend. The ex-dividend date is Thursday, April 22nd. This represents a $0.08 annualized dividend and a dividend yield of 0.78%.

Friedman Industries 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 processing and wholesale of hot-roll coils into sheet and plate, as well as customer-owned coils.

Featured Article: What is an Initial Public Offering (IPO)?

Want to see what other hedge funds are holding FRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Friedman Industries, Incorporated (NYSEAMERICAN:FRD).

Institutional Ownership by Quarter for Friedman Industries (NYSEAMERICAN:FRD)

Receive News & Ratings for Friedman Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Friedman Industries and related companies with MarketBeat.com's FREE daily email newsletter.