Friedman Industries (NYSEAMERICAN:FRD) Stock Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Friedman Industries' stock price crossed above its 200-day moving average, with a trading high of $22.41 and currently priced at $22.20.
• The company announced a quarterly dividend of $0.04 per share, set to be paid on November 14th, with a dividend yield of 0.7%.
• Institutional investors now own 33.26% of Friedman Industries' stock, with recent purchases by firms like Bank of New York Mellon and Northern Trust Corp.

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - )'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.92 and traded as high as $22.41. Friedman Industries shares last traded at $22.20, with a volume of 22,874 shares traded.

Friedman Industries Trading Up 0.6%

The company's 50 day moving average price is $18.31 and its two-hundred day moving average price is $16.92. The firm has a market cap of $154.73 million, a PE ratio of 27.41 and a beta of 1.40.

Friedman Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, October 24th. Friedman Industries's dividend payout ratio (DPR) is currently 19.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FRD. Bank of New York Mellon Corp purchased a new position in shares of Friedman Industries during the 1st quarter valued at $463,000. Wealthedge Investment Advisors LLC purchased a new position in shares of Friedman Industries during the 4th quarter valued at $204,000. Finally, Northern Trust Corp lifted its stake in shares of Friedman Industries by 38.1% during the 4th quarter. Northern Trust Corp now owns 26,511 shares of the company's stock valued at $405,000 after buying an additional 7,320 shares in the last quarter. Hedge funds and other institutional investors 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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