Friedman Industries (NYSEAMERICAN:FRD) Share Price Passes Above 200 Day Moving Average – What’s Next?

Friedman Industries, Incorporated (NYSEAMERICAN:FRD)’s share price 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 $14.51. Friedman Industries shares last traded at $13.96, with a volume of 9,428 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Friedman Industries from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th.

Friedman Industries Price Performance

The firm has a market capitalization of $97.30 million, a PE ratio of 12.25 and a beta of 1.41.

Friedman Industries (NYSEAMERICAN:FRD) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter. Friedman Industries had a net margin of 1.71% and a return on equity of 6.32%. The business had revenue of $106.76 million during the quarter.

Friedman Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 17th will be paid a $0.04 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.16 annualized dividend and a dividend yield of 1.15%. Friedman Industries’s dividend payout ratio is 14.04%.

Insider Activity at Friedman Industries

In other news, CEO Mike J. Taylor bought 2,500 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was acquired at an average price of $14.10 per share, with a total value of $35,250.00. Following the transaction, the chief executive officer now owns 169,154 shares of the company’s stock, valued at $2,385,071.40. This trade represents a 1.50 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 7,180 shares of company stock worth $100,655 over the last three months. Company insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Friedman Industries

A number of institutional investors have recently modified their holdings of FRD. Empowered Funds LLC lifted its holdings in Friedman Industries by 5.3% in the third quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after buying an additional 1,742 shares during the period. Geode Capital Management LLC lifted its stake 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 valued at $1,133,000 after purchasing an additional 7,141 shares during the period. De Lisle Partners LLP boosted its position in shares of Friedman Industries by 2.9% during the 3rd quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after purchasing an additional 11,689 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Friedman Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock worth $8,482,000 after purchasing an additional 1,591 shares during the period. 33.26% of the stock is owned by institutional investors.

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.