Friedman Industries (NYSEAMERICAN:FRD) Shares Cross Above 200-Day Moving Average – Time to Sell?

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

Wall Street Analyst Weigh In

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

Friedman Industries Stock Up 8.7 %

The company has a market capitalization of $105.73 million, a PE ratio of 13.31 and a beta of 1.41.

Friedman Industries (NYSEAMERICAN:FRD) last released its earnings results on Tuesday, November 12th. The company reported ($0.10) 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.16 annualized dividend and a yield of 1.05%. Friedman Industries’s payout ratio is currently 14.04%.

Insider Buying and Selling at Friedman Industries

In other Friedman Industries news, CEO Mike J. Taylor bought 2,000 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $27,000.00. Following the acquisition, the chief executive officer now owns 164,154 shares of the company’s stock, valued at $2,216,079. The trade was a 1.23 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders purchased 8,380 shares of company stock valued at $117,772. Corporate insiders own 4.60% of the company’s stock.

Institutional Trading of Friedman Industries

Several institutional investors and hedge funds have recently modified their holdings of FRD. Empowered Funds LLC lifted its stake in Friedman Industries by 5.3% in the 3rd 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 in the last quarter. Callahan Advisors LLC raised its holdings in shares of 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 acquiring an additional 1,712 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Friedman Industries by 11.2% in the third quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after acquiring an additional 7,141 shares in the last quarter. De Lisle Partners LLP boosted its stake in shares of Friedman Industries by 2.9% during the third quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after acquiring an additional 11,689 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Friedman Industries by 0.3% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors 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.