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

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

Wall Street Analysts Forecast Growth

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

Friedman Industries Price Performance

The firm has a market cap of $102.25 million, a P/E ratio of 6.14 and a beta of 1.37.

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

Friedman Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, July 26th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, July 26th. Friedman Industries’s dividend payout ratio (DPR) is 6.69%.

Insider Transactions at Friedman Industries

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in Friedman Industries by 8.0% in the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock valued at $577,000 after purchasing an additional 2,275 shares during the period. Janney Montgomery Scott LLC raised its position in Friedman Industries by 9.6% in the first quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock valued at $610,000 after purchasing an additional 2,859 shares during the period. AJOVista LLC purchased a new stake in shares of Friedman Industries during the fourth quarter worth about $49,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Friedman Industries during the first quarter worth about $131,000. Finally, Gendell Jeffrey L increased 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 acquiring an additional 20,940 shares during the last quarter. Institutional investors and hedge funds 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.