Friedman Industries (NYSEAMERICAN:FRD) Sees Significant Decrease in Short Interest

Friedman Industries (NYSEAMERICAN:FRD) saw a large decrease in short interest in July. As of July 15th, there was short interest totalling 4,600 shares, a decrease of 43.2% from the June 30th total of 8,100 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 11,000 shares, the days-to-cover ratio is currently 0.4 days.

A hedge fund recently bought a new stake in Friedman Industries stock. Marquette Asset Management LLC acquired a new stake in Friedman Industries (NYSEAMERICAN:FRD) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 18,635 shares of the company’s stock, valued at approximately $82,000. Marquette Asset Management LLC owned approximately 0.27% of Friedman Industries as of its most recent filing with the SEC.

Shares of FRD stock opened at $5.02 on Friday. Friedman Industries has a 52-week low of $3.72 and a 52-week high of $7.24.

Friedman Industries (NYSEAMERICAN:FRD) last announced its quarterly earnings data on Monday, June 29th. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $32.98 million during the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 17th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, July 16th.

Friedman Industries Company Profile

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and steel and pipe distribution activities in the United States. The company operates in two segments, Coil Products and Tubular Products. The Coil Products segment processes hot-roll coils into sheet and plate, as well as customer-owned coils on a fee basis; and sells these products on a wholesale basis.

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