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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $14.34. Friedman Industries shares last traded at $14.14, with a volume of 10,767 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Friedman Industries from a "hold" rating to a "buy" rating in a research report on Monday, October 21st.

Friedman Industries Trading Up 9.1 %

The firm has a market capitalization of $107.55 million, a P/E ratio of 8.97 and a beta of 1.38.

Friedman Industries (NYSEAMERICAN:FRD - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%. The business had revenue of $114.55 million for the quarter.

Friedman Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be given a $0.04 dividend. The ex-dividend date is Friday, October 25th. This represents a $0.16 annualized dividend and a yield of 1.04%. Friedman Industries's dividend payout ratio (DPR) is currently 9.30%.

Insider Activity

In related news, Director Max Alan Reichenthal acquired 2,000 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were bought at an average cost of $14.00 per share, with a total value of $28,000.00. Following the completion of the acquisition, the director now owns 30,761 shares of the company's stock, valued at $430,654. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 6,365 shares of company stock worth $91,241. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gendell Jeffrey L grew its holdings in Friedman Industries by 16.4% during the 1st quarter. Gendell Jeffrey L now owns 435,666 shares of the company's stock worth $8,164,000 after acquiring an additional 61,339 shares during the last quarter. LSV Asset Management bought a new stake in shares of Friedman Industries during the second quarter valued at approximately $343,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Friedman Industries in the first quarter valued at approximately $425,000. Hillsdale Investment Management Inc. bought a new position in Friedman Industries in the 1st quarter worth approximately $131,000. Finally, Callahan Advisors LLC lifted its holdings in Friedman Industries by 8.6% during the 2nd quarter. Callahan Advisors LLC now owns 54,131 shares of the company's stock worth $817,000 after buying an additional 4,293 shares in the last quarter. 33.26% of the stock is owned by institutional investors and hedge funds.

Friedman Industries Company Profile

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.