Friedman Industries: Cyclical Stock With A Pristine Balance Sheet In The Buy Zone
- Friedman Industries is a micro-cap steel processor which is highly leveraged to the economy. It has a strong and unleveraged balance sheet.
- Friedman Industries is selling at below tangible book value.
- Analysis of historical price to book value ratio indicates that the time to buy FRD is now with a view to selling it when P/B ratio exceeds 1.5.