Friedman Industries (NYSEAMERICAN:FRD) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $15.75. Friedman Industries shares last traded at $15.70, with a volume of 16,482 shares traded.

Friedman Industries Stock Performance

The stock has a market cap of $109.43 million, a P/E ratio of 19.38 and a beta of 1.40.

Friedman Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Friday, April 25th. Friedman Industries’s dividend payout ratio is presently 19.75%.

Insider Activity

In other news, CEO Mike J. Taylor bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were bought at an average cost of $14.10 per share, with a total value of $35,250.00. Following the completion of the purchase, the chief executive officer now directly owns 169,154 shares in the company, valued at $2,385,071.40. This represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Tim Scott Stevenson purchased 1,500 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was purchased at an average cost of $17.23 per share, for a total transaction of $25,845.00. Following the acquisition, the director now owns 28,675 shares in the company, valued at approximately $494,070.25. The trade was a 5.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 7,180 shares of company stock valued at $106,922. 4.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FRD. Bridgeway Capital Management LLC raised its position 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 worth $2,414,000 after acquiring an additional 651 shares in the last quarter. Callahan Advisors LLC raised its holdings in Friedman Industries by 3.3% in the fourth quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock worth $823,000 after purchasing an additional 1,712 shares in the last quarter. Empowered Funds LLC lifted its position in Friedman Industries by 5.0% during the fourth 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 bought a new stake in shares of Friedman Industries during the 4th quarter valued at $28,000. Finally, Geode Capital Management LLC grew its position in shares of Friedman Industries by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock worth $1,133,000 after buying an additional 7,141 shares during the period. 33.26% of the stock is owned by hedge funds and other institutional investors.

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.