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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report)'s stock price 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 $15.75. Friedman Industries shares last traded at $15.70, with a volume of 16,482 shares traded.

Friedman Industries Stock Down 1.3 %

The firm has a market capitalization of $103.78 million, a P/E ratio of 18.38 and a beta of 1.40.

Friedman Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, April 25th. Friedman Industries's dividend payout ratio (DPR) is presently 19.75%.

Insiders Place Their Bets

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

Remove Ads

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRD. Geode Capital Management LLC increased its stake in Friedman Industries by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company's stock valued at $1,133,000 after purchasing an additional 7,141 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Friedman Industries by 5.0% during the fourth quarter. Empowered Funds LLC now owns 36,629 shares of the company's stock valued at $560,000 after buying an additional 1,751 shares during the last quarter. Callahan Advisors LLC raised its stake in Friedman Industries by 3.3% in 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 during the last quarter. Jones Financial Companies Lllp purchased a new position in Friedman Industries in the 4th quarter worth $28,000. Finally, Inspire Advisors LLC acquired a new stake in Friedman Industries during the 4th quarter worth about $422,000. 33.26% of the stock is currently owned by hedge funds and other 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.