Friedman Industries Inc. (NASDAQ:FRD) to Issue Quarterly Dividend of $0.04

Friedman Industries Inc. (NASDAQ:FRD - Get Free Report) declared a quarterly dividend on Thursday, June 26th, Wall Street Journal reports. Shareholders of record on Friday, July 18th will be paid a dividend of 0.04 per share on Friday, August 8th. This represents a $0.16 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, July 18th.

Friedman Industries Stock Performance

Shares of FRD stock traded up $0.33 on Thursday, hitting $16.33. The company had a trading volume of 23,189 shares, compared to its average volume of 18,197. Friedman Industries has a twelve month low of $12.24 and a twelve month high of $19.12. The stock has a market cap of $115.29 million, a price-to-earnings ratio of 18.99 and a beta of 1.51. The company's 50-day moving average price is $16.48.

Friedman Industries (NASDAQ:FRD - Get Free Report) last announced its earnings results on Thursday, June 12th. The company reported $0.76 EPS for the quarter. Friedman Industries had a return on equity of 4.70% and a net margin of 1.37%. The business had revenue of $129.22 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Friedman Industries stock. Jane Street Group LLC bought a new position in Friedman Industries Inc. (NASDAQ:FRD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,686 shares of the company's stock, valued at approximately $174,000. Jane Street Group LLC owned approximately 0.17% of Friedman Industries as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 33.26% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Friedman Industries from a "buy" rating to a "hold" rating in a research note on Sunday.

About Friedman Industries

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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