Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $12.90. Friedman Industries shares last traded at $12.87, with a volume of 22,807 shares.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on Friedman Industries in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.
Friedman Industries Stock Performance
Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last announced its quarterly earnings data on Monday, August 14th. The company reported $1.04 EPS for the quarter. The business had revenue of $137.30 million for the quarter. Friedman Industries had a return on equity of 15.93% and a net margin of 3.75%.
Friedman Industries Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, October 20th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, October 19th. This represents a $0.08 annualized dividend and a yield of 0.63%. Friedman Industries’s payout ratio is 3.11%.
Insider Buying and Selling at Friedman Industries
In other news, Director Max Alan Reichenthal purchased 2,000 shares of the business’s stock in a transaction on Monday, September 11th. The stock was acquired at an average price of $13.35 per share, for a total transaction of $26,700.00. Following the acquisition, the director now directly owns 24,120 shares of the company’s stock, valued at approximately $322,002. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 5,000 shares of company stock valued at $67,690 in the last 90 days. Insiders own 3.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EA Series Trust bought a new position in Friedman Industries during the second quarter valued at $302,000. Tower Bridge Advisors bought a new position in Friedman Industries during the 2nd quarter valued at about $143,000. Gendell Jeffrey L grew its holdings in Friedman Industries by 142.3% during the 1st quarter. Gendell Jeffrey L now owns 312,998 shares of the company’s stock valued at $3,549,000 after purchasing an additional 183,834 shares during the last quarter. Acadian Asset Management LLC raised its position in Friedman Industries by 25.7% in the 1st quarter. Acadian Asset Management LLC now owns 113,777 shares of the company’s stock worth $1,289,000 after purchasing an additional 23,268 shares during the period. Finally, State Street Corp lifted its stake in Friedman Industries by 6.9% in the first quarter. State Street Corp now owns 23,247 shares of the company’s stock worth $205,000 after purchasing an additional 1,493 shares during the last quarter. Hedge funds and other institutional investors own 30.57% 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.
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