Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) crossed 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 $14.51. Friedman Industries shares last traded at $13.96, with a volume of 9,428 shares.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised shares of Friedman Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th.
Read Our Latest Stock Report on FRD
Friedman Industries Price Performance
The stock has a market capitalization of $106.64 million, a price-to-earnings ratio of 13.42 and a beta of 1.40.
Friedman Industries (NYSEAMERICAN:FRD - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter. The business had revenue of $106.76 million for the quarter. Friedman Industries had a return on equity of 6.32% and a net margin of 1.71%.
Friedman Industries Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 17th will be paid a $0.04 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.16 dividend on an annualized basis and a yield of 1.05%. Friedman Industries's dividend payout ratio (DPR) is 14.04%.
Insider Buying and Selling at Friedman Industries
In other Friedman Industries news, CEO Mike J. Taylor bought 1,980 shares of the firm's stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average cost of $14.50 per share, for a total transaction of $28,710.00. Following the completion of the transaction, the chief executive officer now directly owns 166,134 shares of the company's stock, valued at approximately $2,408,943. This trade represents a 1.21 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have bought 8,380 shares of company stock worth $117,772. 4.60% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Friedman Industries
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in shares of Friedman Industries by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company's stock valued at $559,000 after purchasing an additional 1,742 shares during the period. Callahan Advisors LLC increased its holdings in Friedman Industries by 3.3% in the fourth quarter. Callahan Advisors LLC now owns 53,846 shares of the company's stock valued at $823,000 after buying an additional 1,712 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Friedman Industries by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company's stock worth $1,133,000 after acquiring an additional 7,141 shares in the last quarter. De Lisle Partners LLP grew its position in shares of Friedman Industries by 2.9% during the 3rd quarter. De Lisle Partners LLP now owns 419,816 shares of the company's stock valued at $6,644,000 after acquiring an additional 11,689 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Friedman Industries by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company's stock valued at $8,482,000 after purchasing an additional 1,591 shares in the last quarter. 33.26% of the stock is owned by institutional investors and hedge funds.
Friedman Industries Company Profile
(
Get Free Report)
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.
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