Friedman Industries (NYSEAMERICAN:FRD) Releases Quarterly Earnings Results

Friedman Industries (NYSEAMERICAN:FRD) released its quarterly earnings data on Monday. The company reported $0.43 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $167.97 million during the quarter. Friedman Industries had a net margin of 1.27% and a return on equity of 4.44%.

Friedman Industries Stock Up 7.9%

Shares of FRD opened at $21.31 on Wednesday. The company has a market capitalization of $148.53 million, a price-to-earnings ratio of 26.31 and a beta of 1.40. Friedman Industries has a 52-week low of $12.24 and a 52-week high of $24.37. The stock has a 50 day moving average price of $20.04 and a 200 day moving average price of $19.92.

Friedman Industries Dividend Announcement

The firm also recently announced 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 is Friday, January 16th. This represents a $0.16 annualized dividend and a yield of 0.8%. Friedman Industries’s 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.