Friedman Industries (NYSEAMERICAN:FRD) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Friedman Industries, Incorporated (NYSEAMERICAN:FRD)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $14.34. Friedman Industries shares last traded at $14.14, with a volume of 10,767 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Friedman Industries from a “hold” rating to a “buy” rating in a research report on Monday, October 21st.

Friedman Industries Trading Up 0.6 %

The stock has a market capitalization of $98.56 million, a PE ratio of 8.22 and a beta of 1.38.

Friedman Industries (NYSEAMERICAN:FRD) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.37 EPS for the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%. The company had revenue of $114.55 million during the quarter.

Friedman Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, October 25th. Friedman Industries’s dividend payout ratio (DPR) is 9.30%.

Insider Buying and Selling

In other news, Director Max Alan Reichenthal purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average cost of $14.00 per share, for a total transaction of $28,000.00. Following the completion of the acquisition, the director now owns 30,761 shares in the company, valued at $430,654. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 6,365 shares of company stock worth $91,241 in the last quarter. Insiders own 4.60% of the company’s stock.

Institutional Trading of Friedman Industries

Hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. bought a new position in Friedman Industries during the first quarter worth about $131,000. LSV Asset Management purchased a new position in shares of Friedman Industries in the second quarter valued at $343,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Friedman Industries during the 1st quarter valued at $425,000. Empowered Funds LLC lifted its holdings in Friedman Industries by 8.0% during the 1st quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after purchasing an additional 2,275 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Friedman Industries by 9.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock worth $610,000 after purchasing an additional 2,859 shares during the period. Institutional investors own 33.26% of the company’s stock.

About Friedman Industries

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.