Friedman Industries (NYSEAMERICAN:FRD) Shares Cross Above Two Hundred Day Moving Average of $0.00

Friedman Industries, Incorporated (NYSEAMERICAN:FRDGet Rating) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $9.16. Friedman Industries shares last traded at $8.95, with a volume of 42,515 shares.

Friedman Industries Price Performance

The stock has a market cap of $65.95 million, a price-to-earnings ratio of 1.67 and a beta of 0.67.

Friedman Industries (NYSEAMERICAN:FRDGet Rating) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.52 earnings per share for the quarter. Friedman Industries had a return on equity of 47.02% and a net margin of 15.68%. The business had revenue of $75.09 million for the quarter.

Friedman Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 22nd were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.89%. Friedman Industries’s payout ratio is presently 1.50%.

Institutional Trading of Friedman Industries

A number of institutional investors have recently bought and sold shares of the business. CastleKnight Management LP purchased a new position in shares of Friedman Industries in the 4th quarter worth $147,000. State Street Corp grew its position in Friedman Industries by 6.9% during the 1st quarter. State Street Corp now owns 23,247 shares of the company’s stock worth $205,000 after purchasing an additional 1,493 shares in the last quarter. Callahan Advisors LLC grew its position in Friedman Industries by 3.2% during the 1st quarter. Callahan Advisors LLC now owns 66,672 shares of the company’s stock worth $587,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Shufro Rose & Co. LLC boosted its stake in shares of Friedman Industries by 5.5% during the 2nd quarter. Shufro Rose & Co. LLC now owns 74,331 shares of the company’s stock valued at $605,000 after buying an additional 3,879 shares during the period. 41.23% of the stock is owned by hedge funds and other institutional investors.

About Friedman Industries

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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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