Friedman Industries (NYSEAMERICAN:FRD) Stock Price Passes Above 200-Day Moving Average - What's Next?

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $16.48. Friedman Industries shares last traded at $15.93, with a volume of 9,420 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Friedman Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th.

Friedman Industries Trading Down 0.5 %

The company has a market capitalization of $110.47 million, a P/E ratio of 13.90 and a beta of 1.41.

Friedman Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.16 dividend on an annualized basis and a yield of 1.01%. Friedman Industries's dividend payout ratio is currently 14.04%.

Insider Buying and Selling at Friedman Industries

In related news, CEO Mike J. Taylor purchased 2,000 shares of Friedman Industries stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of $13.50 per share, with a total value of $27,000.00. Following the transaction, the chief executive officer now owns 164,154 shares in the company, valued at approximately $2,216,079. The trade was a 1.23 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.60% of the company's stock.

Institutional Investors Weigh In On Friedman Industries

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Friedman Industries by 11.2% during the third quarter. Geode Capital Management LLC now owns 70,727 shares of the company's stock valued at $1,133,000 after acquiring an additional 7,141 shares in the last quarter. De Lisle Partners LLP grew its stake in 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 purchasing an additional 11,689 shares during the last quarter. Empowered Funds LLC boosted its position in Friedman Industries by 5.3% in the third quarter. Empowered Funds LLC now owns 34,878 shares of the company's stock valued at $559,000 after buying an additional 1,742 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Friedman Industries by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 361,882 shares of the company's stock valued at $5,464,000 after acquiring an additional 2,245 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Friedman Industries by 0.3% during the second 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 during the period. 33.26% of the stock is currently owned by institutional investors and hedge funds.

About Friedman Industries

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.