Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $16.78. Friedman Industries shares last traded at $16.51, with a volume of 6,061 shares changing hands.
Wall Street Analyst Weigh In
Separately, Wall Street Zen cut shares of Friedman Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, April 15th.
Read Our Latest Research Report on FRD
Friedman Industries Stock Performance
The company has a market capitalization of $113.40 million, a price-to-earnings ratio of 20.09 and a beta of 1.40. The firm has a fifty day moving average price of $15.98.
Friedman Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, April 25th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Friday, April 25th. Friedman Industries's payout ratio is 19.75%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FRD. Mink Brook Asset Management LLC acquired a new position in shares of Friedman Industries during the 4th quarter worth approximately $2,885,000. Bridgeway Capital Management LLC grew its position in Friedman Industries by 0.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 157,850 shares of the company's stock worth $2,414,000 after buying an additional 651 shares in the last quarter. LSV Asset Management increased its stake in Friedman Industries by 21.1% during the 4th quarter. LSV Asset Management now owns 72,700 shares of the company's stock worth $1,112,000 after acquiring an additional 12,663 shares during the period. Callahan Advisors LLC increased its stake in Friedman Industries by 3.3% during the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company's stock worth $823,000 after acquiring an additional 1,712 shares during the period. Finally, Empowered Funds LLC raised its holdings in Friedman Industries by 5.0% in the 4th quarter. Empowered Funds LLC now owns 36,629 shares of the company's stock valued at $560,000 after acquiring an additional 1,751 shares in the last quarter. 33.26% of the stock is owned by institutional investors and hedge funds.
About Friedman Industries
(
Get Free Report)
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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