Friedman Industries (NYSEAMERICAN:FRD) Stock Price Passes Above 200-Day Moving Average of $0.00

Friedman Industries, Incorporated (NYSEAMERICAN:FRD)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $15.60. Friedman Industries shares last traded at $15.59, with a volume of 47,336 shares traded.

Analysts Set New Price Targets

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

Friedman Industries Trading Down 3.9 %

The firm has a market capitalization of $105.25 million, a PE ratio of 6.32 and a beta of 1.34.

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

Friedman Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors 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 1.06%. The ex-dividend date is Friday, July 26th. Friedman Industries’s dividend payout ratio is currently 6.69%.

Insider Activity at Friedman Industries

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. AJOVista LLC bought a new position in Friedman Industries during the fourth quarter valued at approximately $49,000. Hillsdale Investment Management Inc. bought a new position in Friedman Industries during the first quarter valued at approximately $131,000. O Shaughnessy Asset Management LLC bought a new position in Friedman Industries during the first quarter valued at approximately $425,000. Janney Montgomery Scott LLC grew its position in Friedman Industries by 17.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock valued at $459,000 after acquiring an additional 4,377 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Friedman Industries by 8.0% during the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock valued at $577,000 after acquiring an additional 2,275 shares during the last quarter. 33.26% of the stock is currently 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.