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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD)’s stock price crossed 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 changing hands.

Friedman Industries Stock Down 3.0%

The stock has a market capitalization of $142.19 million, a PE ratio of 25.19 and a beta of 1.40. The stock’s 50 day moving average price is $20.08 and its 200-day moving average price is $19.93.

Friedman Industries (NYSEAMERICAN:FRD) last issued its earnings results on Monday, February 9th. The company reported $0.43 earnings per share for the quarter. The company 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 Announces Dividend

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 given a dividend of $0.04 per share. The ex-dividend date is Friday, January 16th. This represents a $0.16 annualized dividend and a dividend yield of 0.8%. Friedman Industries’s dividend payout ratio (DPR) is currently 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.