Friedman Industries (NYSEAMERICAN:FRD) Share Price Passes Above Two Hundred Day Moving Average of $0.00

Friedman Industries, Incorporated (NYSEAMERICAN:FRD)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $19.34. Friedman Industries shares last traded at $19.00, with a volume of 9,906 shares.

Analyst Ratings Changes

Separately, StockNews.com raised Friedman Industries from a “hold” rating to a “buy” rating in a research note on Friday, February 23rd.

Friedman Industries Price Performance

The company has a market capitalization of $132.62 million, a P/E ratio of 7.48 and a beta of 1.35.

Friedman Industries (NYSEAMERICAN:FRD) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.16 EPS for the quarter. Friedman Industries had a return on equity of 15.31% and a net margin of 3.68%. The business had revenue of $115.97 million during the quarter.

Friedman Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, April 26th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.84%. This is a boost from Friedman Industries’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Thursday, April 25th. Friedman Industries’s payout ratio is presently 3.15%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Friedman Industries by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 552,968 shares of the company’s stock valued at $8,549,000 after acquiring an additional 1,432 shares during the period. Renaissance Technologies LLC boosted its position in shares of Friedman Industries by 5.3% during the first quarter. Renaissance Technologies LLC now owns 397,382 shares of the company’s stock worth $4,506,000 after buying an additional 19,920 shares during the period. 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 worth $5,787,000 after buying an additional 20,940 shares during the period. Vanguard Group Inc. boosted its position in shares of Friedman Industries by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 312,445 shares of the company’s stock worth $4,830,000 after buying an additional 10,206 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in shares of Friedman Industries by 1.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 153,942 shares of the company’s stock worth $2,380,000 after buying an additional 2,496 shares during the period. 33.26% of the stock is owned by institutional investors and hedge funds.

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.