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

Key Points

• Friedman Industries' shares have recently crossed above their 200-day moving average, trading at $18.99, indicating potential upward momentum.
• The company declared a $0.04 quarterly dividend with an annualized yield of 0.8%, reflecting a modest dividend payout ratio of 19.75%.
• Institutional ownership of Friedman's shares is notable, with 33.26% held by institutional investors, highlighting interest from larger investment firms.

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - ) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $19.05. Friedman Industries shares last traded at $18.99, with a volume of 21,991 shares.

Friedman Industries Stock Up 0.8%

The stock has a fifty day moving average of $16.44. The firm has a market capitalization of $132.36 million, a P/E ratio of 23.44 and a beta of 1.40.

Friedman Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, July 18th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 18th. Friedman Industries's dividend payout ratio (DPR) is presently 19.75%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its holdings in Friedman Industries by 0.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 157,850 shares of the company's stock valued at $2,414,000 after purchasing an additional 651 shares during the period. Northern Trust Corp boosted its holdings in Friedman Industries by 38.1% in the 4th quarter. Northern Trust Corp now owns 26,511 shares of the company's stock valued at $405,000 after purchasing an additional 7,320 shares during the period. Wealthedge Investment Advisors LLC purchased a new stake in shares of Friedman Industries during the 4th quarter valued at $204,000. Bank of New York Mellon Corp purchased a new stake in shares of Friedman Industries during the 1st quarter valued at $463,000. Finally, Mink Brook Asset Management LLC purchased a new stake in shares of Friedman Industries during the 4th quarter valued at $2,885,000. 33.26% of the stock is owned by institutional investors.

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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