Friedman Industries (NYSEAMERICAN:FRD) Share Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Friedman Industries' stock price has surpassed its 200-day moving average, trading at $19.64, above the average of $17.56.
• The company announced a quarterly dividend of $0.04 per share, with an annualized yield of 0.8%, payable on November 14th.
• Bank of New York Mellon Corp recently acquired a new stake in Friedman Industries, boosting institutional ownership to 33.26%.

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - )'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $17.56 and traded as high as $20.17. Friedman Industries shares last traded at $19.64, with a volume of 11,225 shares traded.

Friedman Industries Price Performance

The firm has a fifty day simple moving average of $20.30 and a 200 day simple moving average of $17.56. The company has a market cap of $136.89 million, a price-to-earnings ratio of 24.25 and a beta of 1.40.

Friedman Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, October 24th. Friedman Industries's dividend payout ratio (DPR) is 19.75%.

Hedge Funds Weigh In On Friedman Industries

An institutional investor recently bought a new position in Friedman Industries stock. Bank of New York Mellon Corp purchased a new stake in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 31,122 shares of the company's stock, valued at approximately $463,000. Bank of New York Mellon Corp owned about 0.45% of Friedman Industries as of its most recent SEC filing. Institutional investors and hedge funds own 33.26% of the company's stock.

Friedman Industries Company Profile

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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