Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $17.00. Friedman Industries shares last traded at $16.64, with a volume of 16,228 shares changing hands.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered Friedman Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, April 15th.
Read Our Latest Stock Report on FRD
Friedman Industries Stock Down 4.6%
The stock has a market capitalization of $113.47 million, a PE ratio of 20.10 and a beta of 1.40. The company has a 50 day moving average of $16.26.
Friedman Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, April 25th were given a $0.04 dividend. The ex-dividend date was Friday, April 25th. This represents a $0.16 dividend on an annualized basis and a yield of 0.98%. Friedman Industries's dividend payout ratio is currently 19.75%.
Institutional Investors Weigh In On Friedman Industries
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mink Brook Asset Management LLC acquired a new position in Friedman Industries in the 4th quarter valued at about $2,885,000. Bank of New York Mellon Corp purchased a new position in shares of Friedman Industries in the first quarter valued at approximately $463,000. Inspire Advisors LLC acquired a new position in shares of Friedman Industries in the fourth quarter valued at approximately $422,000. Corient Private Wealth LLC purchased a new stake in Friedman Industries during the 4th quarter worth approximately $401,000. Finally, Wealthedge Investment Advisors LLC purchased a new stake in Friedman Industries during the 4th quarter worth approximately $204,000. 33.26% of the stock is owned by hedge funds and other institutional investors.
Friedman Industries Company Profile
(
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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