Callahan Advisors buys $160,553 stake in Friedman Industries (FRD)

Friedman Industries (FRD) : Callahan Advisors scooped up 6,717 additional shares in Friedman Industries during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 30,293 shares of Friedman Industries which is valued at $160,553.Friedman Industries makes up approximately 0.04% of Callahan Advisors’s portfolio.

Other Hedge Funds, Including , Creative Planning reduced its stake in FRD by selling 3,016 shares or 75.1% in the most recent quarter. The Hedge Fund company now holds 1,000 shares of FRD which is valued at $5,300.

Friedman Industries Incorporated is engaged in steel processing pipe manufacturing and processing and steel and pipe distribution. The Company’s two product groups include coil and tubular products. It purchases prime hot-rolled steel coils processes the coils into flat finished sheet and plate and sells these products on a wholesale. It sells coil products and processing services to customers. Its customers include steel distributors and customers fabricating steel products such as storage tanks steel buildings farm machinery and equipment construction equipment transportation equipment conveyors and other similar products. Through its Texas Tubular Products Division (TTP) it manufactures purchases processes and markets tubular products. TTP employs pipes processing equipment including beveling machines pipe handling equipment and other related machinery. Its customers include steel and pipe distributors piling contractors and U.S. Steel Tubular Products Inc.

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