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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.56 and traded as high as $20.72. Friedman Industries shares last traded at $20.40, with a volume of 20,299 shares changing hands.

Friedman Industries Stock Performance

The company has a market capitalization of $142.19 million, a price-to-earnings ratio of 25.19 and a beta of 1.40. The stock’s 50-day moving average price is $20.89 and its 200-day moving average price is $18.58.

Friedman Industries (NYSEAMERICAN:FRD) last posted its earnings results on Monday, November 10th. The company reported $0.32 EPS for the quarter. The company had revenue of $152.38 million for the quarter. Friedman Industries had a return on equity of 4.44% and a net margin of 1.27%.

Friedman Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were given a dividend of $0.04 per share. The ex-dividend date was Friday, October 24th. This represents a $0.16 dividend on an annualized basis and a yield of 0.8%. Friedman Industries’s payout ratio is presently 19.75%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Friedman Industries stock. Bank of New York Mellon Corp bought a new stake in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,122 shares of the company’s stock, valued at approximately $463,000. Bank of New York Mellon Corp owned approximately 0.45% of Friedman Industries as of its most recent filing with the Securities and Exchange Commission. 33.26% of the stock is currently owned by institutional investors.

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.