Friedman Industries (NYSEAMERICAN:FRD) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) 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 $14.51. Friedman Industries shares last traded at $13.97, with a volume of 37,010 shares.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Friedman Industries from a "buy" rating to a "hold" rating in a report on Wednesday.

Friedman Industries Stock Up 2.4 %

The company has a market capitalization of $108.04 million, a PE ratio of 19.14 and a beta of 1.40.

Friedman Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be issued a $0.04 dividend. The ex-dividend date is Friday, April 25th. This represents a $0.16 dividend on an annualized basis and a yield of 1.03%. Friedman Industries's dividend payout ratio is presently 19.75%.

Insider Buying and Selling at Friedman Industries

In other news, Director Tim Scott Stevenson bought 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average cost of $17.23 per share, for a total transaction of $25,845.00. Following the completion of the transaction, the director now owns 28,675 shares of the company's stock, valued at approximately $494,070.25. This represents a 5.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mike J. Taylor acquired 2,500 shares of Friedman Industries stock in a transaction on Wednesday, January 15th. The stock was purchased at an average cost of $14.10 per share, for a total transaction of $35,250.00. Following the purchase, the chief executive officer now owns 169,154 shares in the company, valued at approximately $2,385,071.40. The trade was a 1.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 7,180 shares of company stock valued at $106,922 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FRD. Mink Brook Asset Management LLC bought a new stake in Friedman Industries during the fourth quarter valued at about $2,885,000. Bridgeway Capital Management LLC lifted its position in shares of Friedman Industries by 0.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 157,850 shares of the company's stock valued at $2,414,000 after buying an additional 651 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Friedman Industries by 21.1% in the 4th quarter. LSV Asset Management now owns 72,700 shares of the company's stock valued at $1,112,000 after buying an additional 12,663 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Friedman Industries by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company's stock worth $1,133,000 after buying an additional 7,141 shares during the last quarter. Finally, Callahan Advisors LLC raised its stake in shares of Friedman Industries by 3.3% during the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company's stock worth $823,000 after acquiring an additional 1,712 shares in the last quarter. 33.26% of the stock is currently owned by institutional investors.

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.