The structural and magnetic properties of polycrystalline Fe100−xMnx alloys with x = 38, 42, 46, 50, and 55 atomic percent were investigated after a heat treatment and a cold rolling process. According to X-ray diffraction (XRD), all samples crystallize into a γ -phase. For cold rolled alloys x = 38 and 42, XRD analysis using pole figures showed no texture formation whereas cold rolled alloys with x = 46 and 50 exhibited texture components {110} <1–12> and with x = 55, {011} <01–1>. Magnetization measurements clearly demonstrate an antiferromagnetic type of ordering. For both the as-cast as well as the cold rolled materials, magnetostriction measurements at room temperature gave nearly zero magnetostriction.