Friedman Industries (NYSEAMERICAN:FRD) Share Price Crosses Above 200-Day Moving Average of $0.00

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $19.46. Friedman Industries shares last traded at $19.46, with a volume of 22,014 shares.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Friedman Industries from a “hold” rating to a “buy” rating in a report on Friday, February 23rd.

Friedman Industries Trading Up 0.4 %

The firm has a market capitalization of $135.83 million, a PE ratio of 7.66 and a beta of 1.35.

Friedman Industries (NYSEAMERICAN:FRD) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.16 earnings per share (EPS) for the quarter. The company had revenue of $115.97 million for the quarter. Friedman Industries had a net margin of 3.68% and a return on equity of 15.31%.

Friedman Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.16 annualized dividend and a yield of 0.82%. This is an increase from Friedman Industries’s previous quarterly dividend of $0.02. Friedman Industries’s payout ratio is currently 3.15%.

Hedge Funds Weigh In On Friedman Industries

Several large investors have recently added to or reduced their stakes in the company. Denali Advisors LLC bought a new stake in shares of Friedman Industries during the third quarter valued at approximately $27,000. AJOVista LLC bought a new stake in shares of Friedman Industries during the fourth quarter valued at approximately $49,000. Janney Montgomery Scott LLC raised its position in shares of Friedman Industries by 17.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock valued at $459,000 after buying an additional 4,377 shares during the last quarter. Gendell Jeffrey L raised its position in shares of Friedman Industries by 5.9% during the fourth quarter. Gendell Jeffrey L now owns 374,327 shares of the company’s stock valued at $5,787,000 after buying an additional 20,940 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Friedman Industries by 20.4% during the third quarter. Acadian Asset Management LLC now owns 137,027 shares of the company’s stock valued at $1,834,000 after buying an additional 23,250 shares during the last quarter. Hedge funds and other institutional investors own 33.26% of the company’s stock.

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.