Friedman Industries (NYSEAMERICAN:FRD) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.77 and traded as high as $20.85. Friedman Industries shares last traded at $20.62, with a volume of 14,580 shares traded.

Friedman Industries Stock Performance

The stock has a market cap of $143.72 million, a price-to-earnings ratio of 25.46 and a beta of 1.40. The company’s 50 day simple moving average is $19.96 and its two-hundred day simple moving average is $19.77.

Friedman Industries (NYSEAMERICAN:FRD) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.32 EPS for the quarter. Friedman Industries had a net margin of 1.27% and a return on equity of 4.44%. The business had revenue of $152.38 million for the quarter.

Friedman Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 16th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.8%. Friedman Industries’s dividend payout ratio (DPR) is 19.75%.

About Friedman Industries

Friedman Industries, Inc operates through its subsidiary Shenango Furnace Company, LLC, as a manufacturer and distributor of industrial steel products in the United States. The company’s core business centers on the production of flat-rolled steel, including reload coils, case load coils and hook plate, which are custom-engineered to meet the specifications of heavy-duty and critical-service applications. Its facilities are designed to handle a wide variety of steel grades and specialty finishes, enabling it to serve demanding end-use markets.

Friedman Industries supplies steel products to customers in the oil and gas, agricultural equipment, heavy machinery and automotive sectors.