Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $19.46. Friedman Industries shares last traded at $19.46, with a volume of 22,014 shares traded.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised Friedman Industries from a "hold" rating to a "buy" rating in a research note on Friday, February 23rd.
Read Our Latest Research Report on Friedman Industries
Friedman Industries Stock Up 0.4 %
The stock has a market cap of $135.83 million, a price-to-earnings ratio of 7.66 and a beta of 1.35.
Friedman Industries (NYSEAMERICAN:FRD - Get Free Report) last announced its earnings results on Wednesday, February 14th. The company reported $0.16 EPS for the quarter. The company had revenue of $115.97 million during the quarter. Friedman Industries had a return on equity of 15.31% and a net margin of 3.68%.
Friedman Industries Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Friday, April 26th will be paid a $0.04 dividend. This is a boost from Friedman Industries's previous quarterly dividend of $0.02. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, April 25th. Friedman Industries's dividend payout ratio is currently 6.30%.
Institutional Investors Weigh In On Friedman Industries
Institutional investors have recently modified their holdings of the stock. Gendell Jeffrey L boosted its position in shares of Friedman Industries by 5.9% during the fourth quarter. Gendell Jeffrey L now owns 374,327 shares of the company's stock valued at $5,787,000 after buying an additional 20,940 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Friedman Industries by 20.4% during the third quarter. Acadian Asset Management LLC now owns 137,027 shares of the company's stock valued at $1,834,000 after buying an additional 23,250 shares during the last quarter. EAM Investors LLC purchased a new stake in shares of Friedman Industries during the third quarter valued at $1,165,000. Janney Montgomery Scott LLC boosted its position in shares of Friedman Industries by 17.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company's stock valued at $459,000 after buying an additional 4,377 shares during the last quarter. Finally, AJOVista LLC bought a new stake in Friedman Industries during the 4th quarter valued at approximately $49,000. 33.26% of the stock is owned by hedge funds and other institutional investors.
Friedman Industries Company Profile
(
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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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