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Friedman Indus (AMEX:FRD) Stock, Option Chain

Friedman Indus

Friedman Industries

Friedman Industries Inc is engaged in the manufacturing and processing of steel products. The company's operating segments include flat-roll products and Tubular Products. It generates maximum revenue from the flat-roll products segment. The company's products and services include Temper Pass, Cut-To-Length, Whole Coils, Toll Processing, Electric Resistance Welded Pipe (ERW), New Mill Secondary, and Pipe Finishing Services.

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Positive trends for commodities likely to continue in 2025. Junior companies exploring safe jurisdictions include Volt Lithium, Northern Superior, Sierra Madre Gold and Silver, and Friedman Industries.

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Friedman Industries, Incorporated (AMEX:FRD) reported earnings per share of 37 cents in the first quarter of fiscal 2025, which decreased 64.4% from the year-ago figure of $1.04.

Revenues in Detail

Friedman Industries registered revenues of $114.6 million in the fiscal first quarter, down 16.6% year over year.

Friedman Industries Q1 Earnings and Revenues Decline Y/Y

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Friedman Industries Inc

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The positive trends for commodities are likely to continue in 2025. With escalating conflicts and instability in several regions, we explore a list of prospective <a target="_blank" href="https://www.benzinga.com/markets/commodities" rel="noreferrer noopener">junior commodity companies</a> focusing on safe jurisdictions.
Volt Lithium
Volt Lithium (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/VLTLF#OTCQB">VLTLF</a>) is a Canadian junior resource company focused on advancing technology for <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/06/39480795/exclusive-volt-lithium-ceo-touts-6b-cash-flow-opportunity" rel="noreferrer noopener">lithium extraction from oilfield brine</a>. The company aims to be the first commercial producer of brine-based lithium, as its proprietary direct lithium extraction technology allows it to achieve all-in production costs of less than $2,900 per ton. Lithium prices have been hovering around $10,000 per ton, even after collapsing from 2022 highs of over $80,000.
Under the leadership of seasoned entrepreneur Alex Wylie, the firm established a test facility in the Permian Basin in Texas. The next milestone is scheduled over the next few weeks, when the firm plans to commission the next-generation field unit, capable of processing 10,000 barrels of oilfield brine per day. The stock is up 38.64% year-to-date.
Northern Superior
Northern Superior (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/NSUPF#OTCQB">NSUPF</a>) is a junior gold firm focused on projects in Quebec and Ontario. The firm focuses on developing the Chibougamau mining district, where it owns four sites with over <a target="_blank" href="https://www.benzinga.com/markets/commodities/24/08/40135946/exclusive-northern-superior-ceo-simon-marcotte-explains-companys-strategic-expansion-future-p" rel="noreferrer noopener">3 million gold ounces</a>. Due to their physical proximity, these resources could support a single operational design and feed a single mill.
CEO Simon Marcotte commented for Benzinga, saying that "the Chibougamau Gold Camp is drawing increasing attention, including recognition from National Bank, Quebec's largest bank and IAMGOLD's lead underwriter, which has identified the camp as the next stage of growth for IAMGOLD." Marcotte expects that the positive M&amp;A trend in the sector will continue in 2025, with a focus on top-tier jurisdictions like Quebec.
The firm also spun off its Ontario assets as ONGold Resources (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/ONGRF#OTCQB">ONGRF</a>), where it holds 62% stake, with Agnico Eagle Mines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEM#NYSE">AEM</a>), the third largest global gold producer, owing 15%. Northern Superior stock has risen around 2.1% year-to-date.
Sierra Madre Gold And Silver
Sierra Madre Gold and Silver (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SMDRF#OTC">SMDRF</a>) is a mineral exploration company focused on projects in Canada and Mexico. Its flagship project is Guitarra silver-gold mine near Toluca, Mexico. As an underground operation, this project is safe from a potential ban on open-pit mining, which has been debated in the country.
The project's total resource estimate is 200,000 ounces of gold and over 33 million ounces of silver. The testing activities have already generated over $2.5 million in revenues, and a full commercial mining announcement is expected immediately. The stock has returned 27% year-to-date.
Friedman Industries
Friedman Industries (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FRD#AMEX">FRD</a>) is an established domestic steel manufacturer. Over the last five decades, the company has become a notable operator in the North and South Central US. As Donald Trump's second mandate starts on January 20, the domestic steel sector will be the focus of his "America First "policies, which, in the first mandate, included a 25% tariff on steel imports. Trump's stance against the Nippon Steel takeover of US Steel was a rare instance where his <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41445066/as-trump-kamala-harris-and-biden-unite-against-nippon-steels-15b-us-steel-acquisition-japanese-s" rel="noreferrer noopener">opinion aligned</a> with President Joe Biden and Vice President Kamala Harris.
Friedman Industries has an unusual ownership structure with high hedge fund ownership at 11.7%. Insider ownership is also notable (4.8%), and insiders have been exclusively buying in 2024. The stock has been flat year-to-date, rising 0.7%.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/price-target/24/12/42672565/why-trumps-return-to-office-could-drive-gold-demand-in-2025" target="_blank" rel="noreferrer noopener">Why Trump's Return To Office Could Drive Gold Demand In 2025</a>
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Friedman Industries Q2 EPS $(0.10) Down From $0.48 YoY, Sales $106.80M Down From $130.75M YoY

Friedman Industries, Incorporated (AMEX:FRD) reported earnings per share of 37 cents in the first quarter of fiscal 2025, which decreased 64.4% from the year-ago figure of $1.04.
<h3>Revenues in Detail</h3>
Friedman Industries registered revenues of $114.6 million in the fiscal first quarter, down 16.6% year over year.
The decrease in sales resulted from declines in sales volume and average selling price per ton.
Sales volume in the reported quarter consisted of approximately 119,000 tons from inventory (down 7.8% year over year) and another 24,000 tons of toll-processing customer-owned material (flat year over year).
The decline in sales volume in the fiscal first quarter resulted from a combination of challenging conditions for some of Friedman Industries&#39; customers and extended planned downtime for equipment upgrades and maintenance at its Sinton and Decatur facilities.
<h3>Segment Details</h3>
Friedman Industries derives revenues from two segments &mdash; Flat-Roll and Tubular.
For the quarter under review, Flat-Roll revenues were $103.4 million, down 17.4% from the year-ago quarter. The segment had a sales volume of 109,000 tons from inventory and another 24,000 tons of toll processing for the reported quarter, down 9.2% and flat from the year-ago period&#39;s 120,000 tons from inventory and 24,000 tons of toll processing.
The average per ton selling price of flat-roll segment inventory decreased 10.2% to $932 per ton in the reported quarter from $1,038 per ton in the year-ago quarter.
Revenues in the Tubular segment totaled $11.2 million, down 7.7% year over year. The sales volume increased 11.1% to 10,000 tons in the fiscal first quarter from 9,000 tons in the year-ago period.
The average per ton selling price of tubular segment inventory decreased 16.1% to $1,140 per ton in the reported quarter from $1,358 per ton in the year-ago period.
<div class="chart_embed">
<h3>Friedman Industries Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Friedman Industries Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/8c/1723474930.png" style="height:266px; width:620px" title="" />
Friedman Industries Inc. price-consensus-eps-surprise-chart | Friedman Industries Inc. Quote
</div>
<h3>Friedman Industries Gross Margin</h3>
In the quarter under review, Friedman Industries&#39; gross profit declined 37.7% to $18.1 million year over year. The gross margin contracted 536 basis points to 15.8%.
<h3>Adjusted Operating Expenses Analysis</h3>
Selling, general and administrative expenses declined 24% year over year to $4.5 million, primarily resulting from lower incentive compensation expenses due to the lower earnings in the reported quarter.
<h3>Profitability</h3>
The operating loss totaled $1.4 million in the fiscal first quarter against the operating profit of $10.4 million in the year-ago quarter.
In the fiscal first quarter, Friedman Industries&#39; net income was $2.6 million, down 66.6% from the year-ago quarter.
<h3>Liquidity &amp; Debt Management</h3>
Friedman Industries exited first-quarter fiscal 2025 with cash of $4.1 million compared with $2.9 million at the fiscal 2024-end.
Net cash used in operating activities at the end of first-quarter fiscal 2025 was $6.1 million compared with $4.6 million a year ago.
<h3>Guidance</h3>
Friedman Industries has shared its fiscal second-quarter guidance.
For the quarter, management expects sales volume to be similar to the sales volume reported in the fiscal first quarter.
Management also stated that the second quarter started with a further decline in hot-rolled coil&nbsp;prices. However, as of Aug 8, 2024, HRC index prices have started to increase and HRC futures are pricing in further increases. The company may experience a generally challenging margin environment in the fiscal second quarter, but if sustained, the increasing HRC price should result in improved physical margins toward the end of the fiscal second quarter and entering the third quarter.
<h3>Our Take</h3>
Friedman Industries exited the first quarter of fiscal 2025 with dismal top-line and bottom-line results. Lower revenues from both segments and lower sales volumes were also discouraging. The decline in average per ton selling prices across both segments was also disappointing. During the reported quarter, the gross margin contracted, which did not bode well.&nbsp;
On a positive note, an uptick in sales volumes in the Tubular segment during the reported quarter was impressive.
<a href="https://www.zacks.com/stock/news/2320857/friedman-industries-frd-q1-earnings-and-revenues-decline-y-y?cid=CS-BENZ-FT-analyst_blog|earnings_article-2320857">To read this article on Zacks.com click here.</a>

Friedman Industries Q1 Sales $114.55M; EPS $0.37

Although U.S. stocks closed mostly lower on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Lions Gate Entertainment</h3>
<ul>
<li>The Trade: Lions Gate Entertainment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LGF#NYSE">LGF</a>) 10% owner Steven T Mnuchin <a href="https://www.benzinga.com/quote/LGF/analyst-ratings">acquired a total of 1,129,609 shares</a> at an average price of $8.81. To acquire these shares, it cost around $9.96 million.</li>
<li>What's Happening: On June 25, Lionsgate has chosen Amagi to be its partner for FAST playout and deliveries globally.</li>
<li>What Lions Gate Entertainment Does: Lions Gate Entertainment, incorporated in 1986, engages in the film, television, subscription, and location-based entertainment businesses in the United States, Canada, and internationally.</li>
</ul>
<h3 class="wp-block-heading">Fortress Biotech</h3>
<ul>
<li>The Trade: Fortress Biotech, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBIO#NASDAQ">FBIO</a>) President, CEO and Chairman Lindsay A MD Rosenwald acquired a total of 5,000 shares at an average price of $7.39. To acquire these shares, it cost around $36,971.</li>
<li>What's Happening: On July 5, Fortress Biotech reported a pause in the payment of dividends on its 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock.</li>
<li>What Fortress Biotech Does: Fortress Biotech Inc is a biopharmaceutical company. The firm is involved in the business of acquiring, developing, and commercializing pharmaceutical and biotechnology products.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Armada Hoffler Properties</h3>
<ul>
<li>The Trade: Armada Hoffler Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AHH#NYSE">AHH</a>) Director Dennis H. Gartman <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 4,500 shares</a> at an average price of $11.09. To acquire these shares, it cost around $49,926.</li>
<li>What's Happening: Armada Hoffler is expected to report its earnings for the quarter ending June 30, 2024 on Wednesday, Aug. 7.</li>
<li>What Armada Hoffler Properties Does: Armada Hoffler Properties Inc is a real estate company. It engages in developing, building, owning and managing the high-quality, institutional-grade office, retail, and multifamily properties in various markets throughout the Mid-Atlantic and Southeastern United States.</li>
</ul>
<h3 class="wp-block-heading">Friedman Industries</h3>
<ul>
<li>The Trade: Friedman Industries, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRD#NYSE">FRD</a>) Director Joe L Williams <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 3,000 shares</a> at an average price of $14.34. The insider spent around $43,020 to buy those shares. </li>
<li>What's Happening: On June 26, Friedman Industries declared a cash dividend of 4 cents per share.</li>
<li>What Friedman Industries Does: Friedman Industries Inc is engaged in the manufacturing and processing of steel products.</li>
</ul>
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39743368/s-p-500-falls-following-june-inflation-data-fear-greed-index-moves-to-neutral-zone">S&amp;P 500 Falls Following June Inflation Data: Fear &amp; Greed Index Moves To &#8216;Neutral&#8217; Zone</a></li>
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Around $10M Bet On This Tech & Telecom Stock? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed higher on Friday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Noble</h3>
<ul>
<li>The Trade: Noble Corporation plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) 10% owner APMH Invest A/S <a href="https://www.benzinga.com/quote/NE/analyst-ratings">acquired a total of 300,000 shares</a> at an average price of $44.15. To acquire these shares, it cost around $13.2 million.</li>
<li>What's Happening: Last month, Noble announced an agreement to acquire Diamond Offshore Drilling, Inc. for $2.15 billion in a cash &amp; stock deal.</li>
<li>What Noble Does: Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units.</li>
</ul>
<h3 class="wp-block-heading">Friedman Industries</h3>
<ul>
<li>The Trade: Friedman Industries, Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRD#NYSE">FRD</a>) Director, President / CEO Mike J Taylor acquired a total of 5,000 shares at an average price of $14.50. To acquire these shares, it cost around $72,500.</li>
<li>What's Happening: On June 26, Friedman Industries declared a cash dividend of 4 cents per share.</li>
<li>What Friedman Industries Does: Friedman Industries Inc is engaged in the manufacturing and processing of steel products.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Dave &amp; Buster&#8217;s Entertainment</h3>
<ul>
<li>The Trade: Dave &amp; Buster&#8217;s Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>) CFO Darin Harper <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 13,578 shares</a> at an average price of $38.77. To acquire these shares, it cost around $526,420.</li>
<li>What's Happening: On June 12, Dave &amp; Buster&#8217;s reported worse-than-expected first-quarter financial results.</li>
<li>What Dave &amp; Buster&#8217;s Entertainment Does: Dave &amp; Buster&#8217;s Entertainment Inc owns and operates nearly a hundred entertainment and dining establishments in the United States where customers can eat, drink, play games, and watch televised sports.</li>
</ul>
<h3 class="wp-block-heading">First National</h3>
<ul>
<li>The Trade: First National Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FXNC#NASDAQ">FXNC</a>) Director Kirtesh Patel <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 7,500 shares</a> at an average price of $15.56. The insider spent around $116,700 to buy those shares. </li>
<li>What's Happening: On April 30, First National Corporation reported unaudited consolidated net income of $3.2 million for the three months ended March 31, 2024.</li>
<li>What First National Does: First National Corp is a bank holding company of First Bank, which is a commercial bank.</li>
</ul>
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Friedman Industries, Incorporated (AMEX:FRD) delivered earnings per share (EPS) of 71 cents in the fourth quarter of fiscal 2024, down 17.4% year over year.
Full-year EPS was $2.39, down 17.9% compared with the fiscal 2023 period.
<h3>Revenues in Detail</h3>
Friedman Industries registered revenues of $132.2 million in the fiscal fourth quarter, up 6.5% year over year.
Robust performances by both segments drove the topline.
Sales volumes were 159,000 tons in the fiscal fourth quarter, up 8.9% from the year-ago quarter&#39;s 146,000 tons.
Full-year revenues were $516.3 million, indicating a 5.7% decline from the comparable fiscal 2023 period.
<h3>Segment Details</h3>
Friedman Industries&#39; operations consist of two business segments &mdash; Flat-roll and Tubular.
For the quarter under review, Flat-roll reported revenues of $120.6 million, up 6.9% from the year-ago quarter.
During the quarter, the segment had a sales volume of approximately 120,000 tons from inventory and another 29,500 tons of toll processing, down 3.2% and up 110.7%, respectively, year over year. The average per ton selling price of flat-roll segment inventory in fourth-quarter fiscal 2024 was $993 per ton, up 8.5% year over year.
Revenues in the Tubular segment totaled $11.6 million, up 1.8% year over year.
The segment also recorded an 18.8% year-over-year uptick in tons sold, which was 9,500 tons during the quarter. However, the average per ton selling price of tubular segment inventory was $1,216 per ton in the fiscal fourth quarter, down 13.4% from the year-ago quarter.
<div class="chart_embed">
<h3>Friedman Industries Inc. Price, Consensus and EPS Surprise</h3>
<img alt="Friedman Industries Inc. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/cc/1718200200.png" style="height:266px; width:620px" title="" />
Friedman Industries Inc. price-consensus-eps-surprise-chart | Friedman Industries Inc. Quote
</div>
<h3>Friedman Industries Adjusted Gross Margin</h3>
In the quarter under review, Friedman Industries&#39; adjusted gross profit increased 1.5% to $27.5 million. However, the adjusted gross margin contracted 103 basis points (bps) to 20.8%.
<h3>Operating Expenses Analysis</h3>
Selling, general and administrative expenses decreased 5.7% to $6.2 million.
<h3>Profitability</h3>
Adjusted operating profit totaled $21.4 million, indicating a 3.7% uptick from the year-ago quarter. The adjusted operating margin in the fiscal fourth quarter contracted 43 bps to 16.1%.
In the fiscal fourth quarter, Friedman Industries&#39; net income was $4.9 million, down 21.4% from $6.3 million in the prior-year quarter.
<h3>Liquidity &amp; Debt Management</h3>
Friedman Industries exited fiscal 2024 with cash of $2.89 million compared with $2.99 million at the fiscal 2023-end.
Cumulative net cash provided by operating activities at the end of fiscal 2024 was $4.9 million compared with $63.9 million a year ago.
<h3>Our Take</h3>
Friedman Industries exited the fourth quarter of fiscal 2024 with solid top-line results. Robust performances by both its segments were impressive. The strength in sales volume during the quarter was also encouraging. The output generation from the new Sinton, TX facility and near-completion of an upgrade to the company&#39;s Decatur, AL processing line that will allow it to increase the sales volume from that facility in fiscal 2025 looks promising.
However, Friedman Industries&#39; dismal bottom-line performances in the reported quarter were disappointing. The decline in the average per ton selling price of tubular segment inventory during the quarter was also concerning. The contraction of both margins does not bode well.
<a href="https://www.zacks.com/stock/news/2287422/friedman-industries-frd-q4-earnings-decline-y-y-margins-down?cid=CS-BENZ-FT-analyst_blog|earnings_article-2287422">To read this article on Zacks.com click here.</a>

Friedman Industries Q4 Earnings Decline Y/Y, Margins Down

Dividends

Friedman Industries Increases Cash Dividend From $0.02 To $0.04

OUTLOOK
The Company expects to conclude fiscal year 2024 with a strong fourth quarter characterized by solid margins associated with a substantial increase in HRC price entering the fourth quarter. Sales volume for the fourth quarter of fiscal 2024 is expected to be slightly higher than the third quarter volume.

Friedman Industries Expects To Conclude Fiscal Year 2024 With A Strong Q4 Characterized By Solid Margins Associated With A Substantial Increase In HRC Price Entering Q4. Sales Volume For Q4 2024 Is Expected To Be Slightly Higher Than Q3 Volume

Friedman Industries (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FRD#AMEX">FRD</a>) reported quarterly earnings of $0.16 per share. This is a 15.79 percent decrease over earnings of $0.19 per share from the same period last year. The company reported $115.97 million in sales this quarter. This is a 3.68 percent increase over sales of $111.86 million the same period last year.

Friedman Industries Q3 EPS $0.16 Down From $0.19 YoY, Sales $115.97M Up From $111.86M YoY

On December 13, 2023, Friedman Industries, Incorporated (the "Company") repurchased 400,041 shares of the Company's common stock from Metal One Corporation for an aggregate repurchase price of approximately $5.1 million. After the repurchase, the Company had 6,971,824 shares of common stock outstanding.
In addition, the Board of Directors authorized a share repurchase program on December 13, 2023 under which the Company may repurchase up to 1,045,774 shares of the Company's outstanding common stock through December 13, 2026, which equates to 15% of the Company's outstanding shares of common stock after the repurchase of shares from Metal One.
Repurchases under the program may be made from time to time at the Company's discretion and may be made in open market transactions, through block trades, in privately negotiated transactions and pursuant to any trading plan that may be adopted by the Company's management in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, or otherwise. The timing and actual number of shares repurchased pursuant to the program will depend on a variety of factors including price, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities. The repurchase program does not obligate the Company to acquire a specific dollar amount or number of shares and may be modified, suspended or discontinued at any time.

Buybacks

Friedman Industries, Incorporated Announces $5.1M Share Repurchase From Metal One Corporation And Authorization Of Additional Share Repurchase Program Under Which The Co May Repurchase Up To 1,045,774 Shares Of Common Stock  Through December 13, 2026

Friedman Industries Says The Company Believes It Is Positioned Well To Support Customers' Needs And Expects Margin Improvement During Q3 And Into Q4; Sales Volume For The Q3 2024 To Be Slightly Lower Than The Q2 Volume Due Primarily To The Holidays

Friedman Industries Q2 Diluted $0.48 Up From $0.34 YoY, Revenue $130.748M Down From $149.692M YoY

Friedman Industries (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FRD#AMEX">FRD</a>) reported quarterly earnings of $1.04 per share. This is a 32.9 percent decrease over earnings of $1.55 per share from the same period last year. The company reported $137.30 million in sales this quarter. This is a 15.14 percent decrease over sales of $161.80 million the same period last year.

Friedman Industries Q1 EPS $1.04 Down From $1.55 YoY, Sales $137.30M Down From $161.80M YoY

<h3>What are Value Stocks?</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>The following stocks are considered to be notable value stocks in the basic materials sector:</h2>
<ol>
<li>Galiano Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GAU#AMEX">GAU</a>) - P/E: 2.61</li>
<li>Arch Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCH#NYSE">ARCH</a>) - P/E: 2.67</li>
<li>Friedman Indus (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FRD#AMEX">FRD</a>) - P/E: 5.89</li>
<li>Gulf Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GURE#NASDAQ">GURE</a>) - P/E: 2.48</li>
<li>Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) - P/E: 5.93</li>
</ol>
This quarter, Galiano Gold experienced an increase in earnings per share, which was $-0.03 in Q4 and is now $0.04. Most recently, Arch Resources reported earnings per share at $4.04, whereas in Q1 earnings per share sat at $10.02. Friedman Indus saw an increase in earnings per share from 0.19 in Q3 to $0.86 now. Its most recent dividend yield is at 0.81%, which has increased by 0.12% from 0.69% in the previous quarter.
Most recently, Gulf Resources reported earnings per share at $-0.05, whereas in Q4 earnings per share sat at $-0.22. Steel Dynamics has reported Q2 earnings per share at $4.81, which has increased by 19.95% compared to Q1, which was 4.01. Its most recent dividend yield is at 1.75%, which has increased by 0.32% from 1.43% in the previous quarter.
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

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5 Value Stocks In The Basic Materials Sector

Durga Agrawal, Director at Friedman Indus (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FRD#AMEX">FRD</a>), reported a large insider buy on July 26, according to a new SEC filing. 
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000039092/000143774923020654//Archives/edgar/data/39092/000143774923020654/0001437749-23-020654-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday showed that Agrawal purchased 5,000 shares of Friedman Indus. The total transaction amounted to $81,600. 
Friedman Indus shares are trading up 0.41% at $17.25 at the time of this writing on Thursday morning.
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<h3>The Importance of Insider Transactions</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Transaction Codes To Focus On</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000039092">Check Out The Full List Of Friedman Indus's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Director of Friedman Indus Makes $81K Buy

Although US stocks closed mixed on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>B. Riley Financial </h3>
<ul>
<li>The Trade: B. Riley Financial, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rily#NASDAQ">RILY</a>) Chairman and Co-CEO Bryant R Riley <a href="https://www.benzinga.com/quote/RILY/analyst-ratings"> acquired a total of 72,727 shares </a> an average price of $55.00. To acquire these shares, it cost around $4 million.</li>
<li>What&rsquo;s Happening: B. Riley Financial priced its 1,818,182 share offering at $55 per share.</li>
<li>What B. Riley Financial Does: B. Riley Financial Inc is a diversified financial services company.</li>
</ul>
<h3>Friedman Industries </h3>
<ul>
<li>The Trade: Friedman Industries, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/frd#NYSE">FRD</a>) Director Durga Agrawal acquired a total of 5,000 shares at an average price of $16.32. To acquire these shares, it cost around $81,600.</li>
<li>What&rsquo;s Happening: Friedman Industries reported a year-over-year increase in fourth-quarter EPS and revenues.</li>
<li>What Friedman Industries Does: Friedman Industries Inc is engaged in the manufacturing and processing of steel products.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Asana </h3>
<ul>
<li>The Trade: Asana, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/asan#NYSE">ASAN</a>) President, CEO and Chair Dustin Moskovitz <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 160,000 shares </a> at an average price of $22.20. To acquire these shares, it cost around $3.55 million.</li>
<li>What&rsquo;s Happening: Asana reported better-than-expected first-quarter financial results.</li>
<li>What Asana Does: Asana Inc is a software company. The company provides a platform for work management that helps teams orchestrate work, from daily tasks to cross-functional strategic initiatives.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/23/07/33411403/mcdonalds-meta-platforms-and-3-stocks-to-watch-heading-into-thursday"> McDonald&#39;s, Meta Platforms And 3 Stocks To Watch Heading Into Thursday </a>

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$4M Bet On B. Riley Financial? Check Out These 3 Stocks Insiders Are Buying

Durga Agrawal, Director at Friedman Indus (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FRD#AMEX">FRD</a>), reported a large insider buy on July 26, according to a new SEC filing. 
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000039092/000143774923020654//Archives/edgar/data/39092/000143774923020654/0001437749-23-020654-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday showed that Agrawal purchased 5,000 shares of Friedman Indus. The total transaction amounted to $81,600. 
Friedman Indus shares are trading up 1.59% at $16.61 at the time of this writing on Wednesday morning.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Why Insider Transactions Are Important</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision. 
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Important Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000039092">Check Out The Full List Of Friedman Indus's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Friedman Indus Director Trades $81K In Company Stock

The most overbought stocks in the materials sector presents an opportunity to go short on these overvalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70.</a>
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Alto Ingredients, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alto#NASDAQ">ALTO</a>)</h3>
<ul>
<li>Alto Ingredients reported better-than-expected first-quarter sales. &ldquo;In 2023, we continue to make good progress executing our transformative capital initiatives to drive our EBITDA expansion goals, and we are also pleased that current market improvements are positively impacting our business,&rdquo; said Mike Kandris, CEO of Alto Ingredients. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/ALTO">52-week high of $5.30. </a>.</li>
<li>RSI Value: 74.21</li>
<li>ALTO Price Action: Shares of Alto Ingredients gained 3.6% to close at $3.73 on Wednesday.</li>
</ul>
<h3>Friedman Industries, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/frd#NYSE">FRD</a>)</h3>
<ul>
<li>Friedman Industries reported a year-over-year increase in fourth-quarter EPS and revenues. &ldquo;Strong fourth quarter results put an exclamation mark on a monumental fiscal year for Friedman,&rdquo; said Michael J. Taylor, President and Chief Executive Officer. The company&rsquo;s <a href="https://www.benzinga.com/quote/FRD"> stock has a 52-week high </a> of $13.38.</li>
<li>RSI Value: 73.32</li>
<li>FRD Price Action: Shares of Friedman Industries rose 0.5% to close at $12.89 on Wednesday.</li>
</ul>
<h3>Reliance Steel &amp; Aluminum Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rs#NYSE">RS</a>)</h3>
<ul>
<li>Reliance Steel &amp; Aluminum recently acquired all outstanding equity interests of Southern Steel Supply, LLC. The company has a <a href="https://www.benzinga.com/quote/RS"> 52-week high </a> of $286.80.</li>
<li>RSI Value: 75.81</li>
<li>RS Price Action: Shares of Reliance Steel &amp; Aluminum gained 0.4% to close at $283.32 on Wednesday.</li>
</ul>
<h3>Arconic Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/arnc#NYSE">ARNC</a>)</h3>
<ul>
<li>Arconic recently entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management. The company&rsquo;s 52-week high is $30.68.</li>
<li>RSI Value: 70.57</li>
<li>ARNC Price Action: Shares of Arconic gained 0.1% to close at $29.59 on Wednesday.</li>
</ul>
<h3>POSCO Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pkx#NYSE">PKX</a>)</h3>
<ul>
<li>POSCO shares jumped 33% over the past six months. The company <a href="https://www.benzinga.com/quote/PKX"> has a 52-week high </a> of $82.42.</li>
<li>RSI Value: 70.69</li>
<li>PKX Price Action: Shares of POSCO rose 6.4% to settle at $81.98 on Wednesday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/23/07/33210000/delta-air-lines-conagra-brands-and-3-stocks-to-watch-heading-into-thursday"> Delta Air Lines, Conagra Brands And 3 Stocks To Watch Heading Into Thursday </a>

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<h3>Gainers</h3>
<ul>
<li>Addentax Group Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atxg#NASDAQ">ATXG</a>) shares jumped 47.3% to $9.68. Addentax Group is launching automation of artificial intelligence internet operational tools project with top Games-as-a-Service firms.</li>
<li>CymaBay Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cbay#NASDAQ">CBAY</a>) surged 40% to $10.97.</li>
<li>Cyteir Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cyt#NASDAQ">CYT</a>) shares gained 38% to $2.6487. Cyteir Therapeutics reported discontinuation of CYT-0851 development program and planned liquidation and dissolution.</li>
<li>TOP Financial Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/top#NASDAQ">TOP</a>) shares gained 32.2% to $10.31 after the company reported FY23 financial results.</li>
<li>Renalytix Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rnlx#NASDAQ">RNLX</a>) shares jumped 31% to $2.66 after the company received FDA De Novo marketing authorization for its KidneyIntelX.dkd prognostic test.</li>
<li>Baudax Bio, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bxrx#NASDAQ">BXRX</a>) gained 24% to $0.6450 after the company agreed to acquire TeraImmune in a stock-for-stock transaction.</li>
<li>Friedman Industries, Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/frd#NYSE">FRD</a>) rose 19.6% to $11.90 after posting a profit for the fourth quarter.</li>
<li>CytomX Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctmx#NASDAQ">CTMX</a>) gained 17.7% to $1.65 after the company announced a $30 million private placement from BVF Partners L.P.</li>
<li>Rackspace Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rxt#NASDAQ">RXT</a>) gained 15.8% to $2.27. Rackspace Technology partnered with Google Cloud to offer cutting-edge generative AI services and solutions using the FAIR practice.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aaoi#NASDAQ">AAOI</a>) gained 15.5% to $6.27.</li>
<li>MicroVision, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mvis#NASDAQ">MVIS</a>) climbed 12.8% to $4.40.</li>
<li>XPeng Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpev#NYSE">XPEV</a>) gained 12.4% to $13.29 after CLSA upgraded the stock from Buy to Outperform and raised the price target from $10 to $13.1. The company, on Thursday. launched G6 Ultra Smart Coupe SUV in China.</li>
<li>Alvotech (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alvo#NASDAQ">ALVO</a>) rose 12.2% to $7.74. The FDA issued a complete response letter to second application for AVT02, biosimilar candidate for Humira.</li>
<li>Digital Turbine, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apps#NASDAQ">APPS</a>) gained 11.3% to $9.58.</li>
<li>Eiger BioPharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eigr#NASDAQ">EIGR</a>) climbed 11% to $0.6101. Baird maintained Eiger BioPharmaceuticals with an Outperform and raised the price target from $3 to $5.</li>
<li>Aurinia Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/auph#NASDAQ">AUPH</a>) shares rose 9% to $9.98 after the board announced exploration of strategic alternatives to maximize shareholder value.</li>
<li>IMAC Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/back#NASDAQ">BACK</a>) rose 8.6% to $0.1195 after declining around 4% on Thursday.</li>
<li>Accolade, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/accd#NASDAQ">ACCD</a>) gained 8.4% to $13.71 after the company reported better than expected first-quarter earnings.</li>
<li>Carnival Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ccl#NYSE">CCL</a>) climbed 7.8% to $18.50 after Jefferies upgraded the stock from Hold to Buy and raised the price target from $9 to $25.</li>
<li>Better Choice Company Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bttr#NYSE">BTTR</a>) shares gained 6.9% to $0.2310 after declining 6% on Thursday. Better Choice recently announced a $5 million investment from Alphia.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>iMedia Brands, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imbil#NASDAQ">IMBIL</a>) dipped 37% to $0.7686 after dropping over 70% on Thursday.</li>
<li>Unicycive Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uncy#NASDAQ">UNCY</a>) fell 23.4% to $1.26 after the company provided an update concerning its marketing application for lanthanum dioxycarbonate for hyperphosphatemia in chronic kidney disease patients on dialysis.</li>
<li>Apyx Medical Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apyx#NASDAQ">APYX</a>) fell 20.4% to $5.32. Apyx&reg; Medical is expected to report financial results for the second quarter on Thursday, Aug. 10.</li>
<li>Evelo Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/evlo#NASDAQ">EVLO</a>) dropped 19.5% to $2.84. Evelo Biosciences announced a 1-for-20 reverse stock split.</li>
<li>Paltalk, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/palt#NASDAQ">PALT</a>) shares dipped 18.8% to $2.29.</li>
<li>Cineverse Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cnvs#NASDAQ">CNVS</a>) fell 17.8% to $1.89 after the company reported weak fourth-quarter sales.</li>
<li>Surgalign Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srga#NASDAQ">SRGA</a>) dipped 17.6% to $0.2249.</li>
<li>Fangdd Network Group Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/duo#NASDAQ">DUO</a>) shares dropped 16.2% to $0.8466 after jumping 31% on Thursday.</li>
<li>Kintara Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktra#NASDAQ">KTRA</a>) dipped 16.2% to $3.53. Kintara Therapeutics secured $2 million National Institutes Of Health SBIR grant to support development of REM-001.</li>
<li>Kiromic BioPharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/krbp#NASDAQ">KRBP</a>) fell 14.1% to $2.74. Kiromic Biopharma recently appointed Brian Hungerford as interim CFO.</li>
<li>Advanced Health Intelligence Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ahi#NASDAQ">AHI</a>) dropped 12.5% to $4.34. Advanced Health Intelligence announced implementation of ADS ratio change with effect of 1:4 reverse ADS split.</li>
<li>Root, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/root#NASDAQ">ROOT</a>) fell 12% to $9.87. Root said it is not in receipt of any proposal that is either actionable or in the best interests of shareholders.</li>
<li>Foghorn Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fhtx#NASDAQ">FHTX</a>) declined 11.2% to $7.27.</li>
<li>TuSimple Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsp#NASDAQ">TSP</a>) fell 10.4% to $1.6480.</li>
<li>Eos Energy Enterprises, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eose#NASDAQ">EOSE</a>) dropped 10.3% to $4.42 after B. Riley Securities downgraded the stock from Buy to Neutral.</li>
<li>P3 Health Partners Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/piii#NASDAQ">PIII</a>) fell 9.5% to $2.96. TD Cowen initiated coverage on P3 Health Partners with a Market Perform rating.</li>
<li>Novonix Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvx#NASDAQ">NVX</a>) dropped 8.1% to $2.50.</li>
<li>Hillstream BioPharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hils#NASDAQ">HILS</a>) declined 7.7% to $0.36.</li>
<li>Golden Sun Education Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gsun#NASDAQ">GSUN</a>) shares dropped 7.6% to $1.0350.</li>
<li>1-800-FLOWERS.COM, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/flws#NASDAQ">FLWS</a>) dropped 6.5% to $7.77. 1-800-FLOWERS.COM said CEO Christopher Mccann Will be stepping down for personal health reasons, effective July 3, 2023.</li>
<li>Ontrak, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/otrk#NASDAQ">OTRK</a>) shares fell 6% to $0.4716 after the company filed for secondary stock offering together with warrants.</li>
</ul>
&nbsp;
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Intraday Update

Movers

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EIGR

EOSE

EVLO

FHTX

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Press Releases

Friedman Industries, Incorporated Announces Third Quarter Results

FRIEDMAN INDUSTRIES, INCORPORATED INCREASES CASH DIVIDEND

Friedman Industries, Incorporated Announces Fourth Quarter and Fiscal Year 2024 Results

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