Friedman Industries (NYSEAMERICAN:FRD) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) 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 $16.25. Friedman Industries shares last traded at $16.05, with a volume of 12,960 shares trading hands.

Analyst Ratings Changes

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

Friedman Industries Stock Up 0.5%

The stock has a market cap of $114.45 million, a P/E ratio of 20.27 and a beta of 1.40. The firm's 50 day simple moving average is $15.93.

Friedman Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, April 25th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $0.16 dividend on an annualized basis and a yield of 0.97%. Friedman Industries's payout ratio is currently 19.75%.

Institutional Trading of Friedman Industries

Large investors have recently bought and sold shares of the business. Bridgeway Capital Management LLC grew its stake in shares of 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 buying an additional 651 shares during the period. Callahan Advisors LLC grew its stake in shares of Friedman Industries by 3.3% in the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company's stock valued at $823,000 after buying an additional 1,712 shares during the period. Empowered Funds LLC grew its stake in shares of 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 buying an additional 1,751 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Friedman Industries in the 4th quarter valued at about $28,000. Finally, Northern Trust Corp grew its stake in shares of 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 buying an additional 7,320 shares during the period. 33.26% of the stock is currently owned by institutional investors and hedge funds.

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.