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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD)’s stock price passed 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 $14.73. Friedman Industries shares last traded at $14.67, with a volume of 10,629 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Friedman Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 19th.

Friedman Industries Price Performance

The company has a market cap of $102.25 million, a PE ratio of 6.14 and a beta of 1.37.

Friedman Industries (NYSEAMERICAN:FRD) last issued its earnings results on Tuesday, June 11th. The company reported $0.71 earnings per share (EPS) for the quarter. The company had revenue of $132.23 million for the quarter. Friedman Industries had a return on equity of 13.86% and a net margin of 3.36%.

Friedman Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, July 26th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, July 26th. Friedman Industries’s payout ratio is 6.69%.

Insiders Place Their Bets

In related news, CEO Mike J. Taylor bought 5,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $16.54 per share, with a total value of $82,700.00. Following the transaction, the chief executive officer now owns 147,154 shares in the company, valued at approximately $2,433,927.16. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Joel Spira bought 2,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were purchased at an average price of $14.27 per share, with a total value of $28,540.00. Following the transaction, the director now owns 16,504 shares in the company, valued at approximately $235,512.08. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mike J. Taylor bought 5,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were bought at an average cost of $16.54 per share, for a total transaction of $82,700.00. Following the transaction, the chief executive officer now owns 147,154 shares in the company, valued at approximately $2,433,927.16. The disclosure for this purchase can be found here. Insiders have bought a total of 8,908 shares of company stock valued at $142,398 in the last quarter. 3.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Friedman Industries

A number of large investors have recently bought and sold shares of FRD. AJOVista LLC purchased a new stake in shares of Friedman Industries in the 4th quarter worth $49,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Friedman Industries in the 1st quarter worth $131,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Friedman Industries in the 1st quarter worth $425,000. Janney Montgomery Scott LLC lifted its holdings in shares of Friedman Industries by 17.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock worth $459,000 after buying an additional 4,377 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Friedman Industries by 8.0% in the 1st quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after buying an additional 2,275 shares during the period. Hedge funds and other institutional investors own 33.26% of the company’s stock.

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.