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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Rating) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $10.83. Friedman Industries shares last traded at $10.58, with a volume of 45,981 shares trading hands.

Friedman Industries Stock Performance

The firm has a market cap of $77.96 million, a price-to-earnings ratio of 30.23 and a beta of 1.00.

Friedman Industries (NYSEAMERICAN:FRD – Get Rating) last released its quarterly earnings results on Friday, December 2nd. The company reported $0.34 earnings per share (EPS) for the quarter. Friedman Industries had a net margin of 0.74% and a return on equity of 14.95%. The company had revenue of $149.69 million for the quarter.

Friedman Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, January 13th will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, January 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.76%. Friedman Industries’s dividend payout ratio is currently 22.86%.

Insider Buying and Selling

In other Friedman Industries news, Director Sandra Kay Scott acquired 5,000 shares of the firm’s stock in a transaction on Monday, October 24th. The stock was purchased at an average price of $9.68 per share, with a total value of $48,400.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $48,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders purchased 9,845 shares of company stock worth $92,244. Insiders own 3.30% of the company’s stock.

Institutional Investors Weigh In On Friedman Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Friedman Industries by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 295,183 shares of the company’s stock valued at $2,098,000 after buying an additional 18,500 shares in the last quarter. State Street Corp lifted its holdings in shares of Friedman Industries by 6.9% during the first quarter. State Street Corp now owns 23,247 shares of the company’s stock worth $205,000 after buying an additional 1,493 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Friedman Industries in the third quarter valued at $99,000. Royal Bank of Canada raised its stake in shares of Friedman Industries by 15.6% in the third quarter. Royal Bank of Canada now owns 12,370 shares of the company’s stock valued at $87,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Gendell Jeffrey L raised its stake in Friedman Industries by 38.6% during the third quarter. Gendell Jeffrey L now owns 46,010 shares of the company’s stock worth $327,000 after acquiring an additional 12,809 shares in the last quarter. 26.26% of the stock is currently owned by institutional investors.

Friedman Industries Company Profile

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Friedman Industries, Inc engages in the provision of manufacture and trade of steel products. It operates through the Coil and Tubular segments. The Coil segment produces and markets hot-rolled steel and coils. The Tubular segment focuses on the operation of two electric resistance welded pipe mills with a combined outside diameter.