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

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. Investors of record on Friday, October 24th will be given a dividend of 0.04 per share on Friday, November 14th. This represents a c) annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, October 24th.

Friedman Industries Price Performance

NASDAQ:FRD traded up $0.78 during mid-day trading on Friday, hitting $22.70. The company's stock had a trading volume of 118,579 shares, compared to its average volume of 28,884. Friedman Industries has a fifty-two week low of $12.24 and a fifty-two week high of $22.96. The firm has a market cap of $160.26 million, a P/E ratio of 18.92 and a beta of 1.48. The company has a fifty day simple moving average of $18.07.

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

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.