Friedman Industries (NYSEAMERICAN:FRD) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $19.93 and traded as high as $21.36. Friedman Industries shares last traded at $20.40, with a volume of 18,402 shares traded.

Friedman Industries Stock Down 3.0%

The company has a market capitalization of $142.19 million, a P/E ratio of 25.19 and a beta of 1.40. The business has a 50 day moving average of $20.08 and a 200 day moving average of $19.93.

Friedman Industries (NYSEAMERICAN:FRD) last issued its quarterly earnings data on Monday, February 9th. The company reported $0.43 earnings per share (EPS) for the quarter. The business had revenue of $167.97 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 declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 16th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.8%. Friedman Industries’s dividend payout ratio is presently 19.75%.

About Friedman Industries

Friedman Industries, Inc operates through its subsidiary Shenango Furnace Company, LLC, as a manufacturer and distributor of industrial steel products in the United States. The company’s core business centers on the production of flat-rolled steel, including reload coils, case load coils and hook plate, which are custom-engineered to meet the specifications of heavy-duty and critical-service applications. Its facilities are designed to handle a wide variety of steel grades and specialty finishes, enabling it to serve demanding end-use markets.

Friedman Industries supplies steel products to customers in the oil and gas, agricultural equipment, heavy machinery and automotive sectors.