Ray Merola
Value, dividend investing, growth at reasonable price, contrarian

Friedman Industries: A Microcap Steel Company Selling At Net Book

Friedman Industries Inc. (NYSEMKT:FRD) is a niche steel processing company with a tiny $66.2 million market cap. I found this stock to be an interesting offering, based upon several underlying premises. These include: no debt, a current stock price roughly equivalent to book value, and the shares pay a decent yield to boot.

FRD management just released their FY 2013 earnings announcement and 10-K statement after the market close on Thursday last week.

As a current investor, corporate management provided me brief interviews to ask basic questions about recent SEC filings. It appears there are no regularly assigned Street analysts that cover the stock.

In this article, I will present an overview of the business, an investment thesis,...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details