Friedman Industries (NYSEAMERICAN:FRD) Share Price Passes Above Two Hundred Day Moving Average – Should You 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 $17.56 and traded as high as $20.17. Friedman Industries shares last traded at $19.64, with a volume of 11,225 shares.

Friedman Industries Price Performance

The firm’s 50 day moving average price is $20.30 and its 200-day moving average price is $17.56. The firm has a market cap of $136.89 million, a price-to-earnings ratio of 24.25 and a beta of 1.40.

Friedman Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be paid a $0.04 dividend. The ex-dividend date is Friday, October 24th. This represents a $0.16 annualized dividend and a dividend yield of 0.8%. Friedman Industries’s dividend payout ratio (DPR) is presently 19.75%.

Institutional Investors Weigh In On Friedman Industries

A hedge fund recently bought a new stake in Friedman Industries stock. Bank of New York Mellon Corp acquired a new position in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,122 shares of the company’s stock, valued at approximately $463,000. Bank of New York Mellon Corp owned about 0.45% of Friedman Industries at the end of the most recent quarter. 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.