Friedman Industries, Incorporated (FRD) is a publicly traded company on the NYSE American, founded in 1965 and headquartered in Longview, Texas. The company operates eight facilities across the U.S., specializing in steel processing, pipe manufacturing, and distribution. It operates through two main divisions: the Coil Division (Flat Roll Division) and ...Friedman Industries, Incorporated (FRD) is a publicly traded company on the NYSE American, founded in 1965 and headquartered in Longview, Texas. The company operates eight facilities across the U.S., specializing in steel processing, pipe manufacturing, and distribution. It operates through two main divisions: the Coil Division (Flat Roll Division) and the Tubular Division. The Coil Division converts steel coils into flat sheet and plate steel, precisely cut to customer specifications, and also offers processing services for customer-owned materials. This division serves approximately 230 customers, including steel distributors and manufacturers in central and southern U.S., who use the steel for products like steel buildings, railway carriages, barges, storage tanks, shipping containers, trailers, and other fabricated steel goods. The Tubular Division produces various types of pipes, including line pipe, oil country tubular goods (OCTG), and structural pipe, primarily sold to steel and pipe distributors via an internal sales force. The company prides itself on providing high-quality steel products at competitive prices with quick delivery, a commitment that has sustained its growth for over 60 years. Financially, Friedman Industries has a market cap of approximately $321.8 million, with revenue per share of $107.71 and net income per share of $3.86. Key financial ratios indicate a price-to-earnings ratio of 11.62, a debt-to-equity ratio of 0.031, and a current ratio of 2.902, suggesting a healthy liquidity position. The company employs around 381 people, and its leadership includes President and CEO Michael J. Taylor, who took office in March 2019. Under his leadership, the company continues to focus on operational efficiency and customer satisfaction, aiming to maintain its position as a reliable steel supplier in the U.S. market.
