Friedman Industries (NYSEAMERICAN:FRD) Shares Cross Above Two Hundred Day Moving Average of $0.00

Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Rating)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $11.30. Friedman Industries shares last traded at $11.20, with a volume of 18,964 shares changing hands.

Friedman Industries Price Performance

The stock has a market cap of $82.53 million, a P/E ratio of 2.09 and a beta of 0.67.

Friedman Industries (NYSEAMERICAN:FRD – Get Rating) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.52 EPS for the quarter. Friedman Industries had a return on equity of 47.02% and a net margin of 15.68%. The company had revenue of $75.09 million for the quarter.

Friedman Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 22nd were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Thursday, July 21st. Friedman Industries’s dividend payout ratio (DPR) is presently 1.50%.

Institutional Investors Weigh In On Friedman Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Shufro Rose & Co. LLC increased its position in Friedman Industries by 64.4% during the first quarter. Shufro Rose & Co. LLC now owns 70,452 shares of the company’s stock worth $621,000 after buying an additional 27,592 shares during the last quarter. CastleKnight Management LP bought a new position in Friedman Industries during the fourth quarter worth about $147,000. Callahan Advisors LLC increased its holdings in shares of Friedman Industries by 8.7% during the fourth quarter. Callahan Advisors LLC now owns 64,600 shares of the company’s stock worth $606,000 after buying an additional 5,158 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Friedman Industries by 6.9% in the first quarter. State Street Corp now owns 23,247 shares of the company’s stock valued at $205,000 after purchasing an additional 1,493 shares in the last quarter. Institutional investors and hedge funds own 41.23% of the company’s stock.

About Friedman Industries

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Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils.