Friedman Industries Inc. (NASDAQ:FRD) Plans $0.04 Quarterly Dividend

Key Points

• Friedman Industries Inc. declared a quarterly dividend of $0.04 per share, payable on November 14th to investors of record as of October 24th, with an annualized yield of 0.7%.
• Shares of Friedman Industries rose by 2.8%, trading at $21.92, with a market capitalization of approximately $154.76 million and a 12-month high of $22.96.
• Wall Street analysts have upgraded Friedman Industries from a "buy" rating to a "strong-buy" rating, indicating positive expectations for the company's growth.

Friedman Industries Inc. (NASDAQ:FRD - Get Free Report) declared a quarterly dividend on Thursday, September 18th, RTT News reports. Shareholders of record on Friday, October 24th will be paid a dividend of 0.04 per share on Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, October 24th.

Friedman Industries Trading Down 2.8%

Friedman Industries stock traded down $0.64 during trading hours on Monday, reaching $22.06. The stock had a trading volume of 38,593 shares, compared to its average volume of 32,246. The company has a market capitalization of $155.74 million, a P/E ratio of 18.38 and a beta of 1.48. The stock has a 50 day moving average of $18.18. Friedman Industries has a 52 week low of $12.24 and a 52 week high of $22.98.

Friedman Industries (NASDAQ:FRD - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter. The business had revenue of $134.78 million during the quarter. Friedman Industries had a net margin of 1.84% and a return on equity of 6.50%.

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.