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

Key Points

• Friedman Industries Inc. has declared a quarterly dividend of $0.04 per share, set to be paid on November 14th to stockholders of record on October 24th, reflecting a 0.7% dividend yield.
• The company's shares recently traded at $21.92 with a market capitalization of $154.76 million, and it reported $0.71 earnings per share for the last quarter.
• Recent institutional investments included significant purchases, with JPMorgan Chase & Co. increasing its stake by 760.0% in the second quarter, suggesting strong interest from large investors.

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

Friedman Industries Trading Up 3.6%

Friedman Industries stock 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. The stock's 50 day moving average is $18.07. The firm has a market cap of $160.26 million, a P/E ratio of 18.92 and a beta of 1.48. Friedman Industries has a 52-week low of $12.24 and a 52-week high of $22.96.

Friedman Industries (NASDAQ:FRD - Get Free Report) last issued its 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 company had revenue of $134.78 million during the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Friedman Industries from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 17th.

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.