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

Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) passed 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 $16.71. Friedman Industries shares last traded at $16.46, with a volume of 19,398 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Friedman Industries from a "buy" rating to a "hold" rating in a report on Tuesday, April 15th.

Friedman Industries Stock Performance

The firm has a 50 day moving average of $16.59. The company has a market cap of $114.73 million, a price-to-earnings ratio of 20.32 and a beta of 1.40.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in Friedman Industries in the fourth quarter worth $28,000. Wealthedge Investment Advisors LLC purchased a new position in Friedman Industries in the fourth quarter worth $204,000. Corient Private Wealth LLC purchased a new position in Friedman Industries in the fourth quarter worth $401,000. Northern Trust Corp raised its position in Friedman Industries by 38.1% in the fourth quarter. Northern Trust Corp now owns 26,511 shares of the company's stock worth $405,000 after acquiring an additional 7,320 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in Friedman Industries in the fourth quarter worth $422,000. Hedge funds and other institutional investors own 33.26% of the company's stock.

About Friedman Industries

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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