Friedman Industries Inc. (FRD) To Go Ex-Dividend on July 17th

Friedman Industries Inc. (NASDAQ:FRD) declared a quarterly dividend on Wednesday, June 24th. Stockholders of record on Friday, July 17th will be paid a dividend of 0.04 per share on Friday, August 7th. This represents a c) annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, July 17th.

Friedman Industries has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years.

Friedman Industries Stock Up 1.4%

Shares of Friedman Industries stock opened at $35.00 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.38 and a quick ratio of 1.11. Friedman Industries has a 1-year low of $14.51 and a 1-year high of $37.97. The business’s fifty day moving average price is $28.06 and its two-hundred day moving average price is $22.22. The company has a market capitalization of $248.85 million, a P/E ratio of 12.68 and a beta of 1.56.

Friedman Industries (NASDAQ:FRD) last issued its quarterly earnings results on Thursday, June 11th. The company reported $1.30 EPS for the quarter. The company had revenue of $191.78 million for the quarter. Friedman Industries had a return on equity of 13.70% and a net margin of 3.02%.

Institutional Trading of Friedman Industries

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in Friedman Industries by 50.7% during the third quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock valued at $37,000 after purchasing an additional 576 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Friedman Industries in the second quarter worth $60,000. New York State Common Retirement Fund acquired a new position in shares of Friedman Industries in the second quarter worth $103,000. JPMorgan Chase & Co. raised its holdings in shares of Friedman Industries by 760.0% during the second quarter. JPMorgan Chase & Co. now owns 6,364 shares of the company’s stock worth $105,000 after acquiring an additional 5,624 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Friedman Industries during the first quarter valued at $174,000. 33.26% of the stock is owned by hedge funds and other institutional investors.

Friedman Industries Company Profile

Friedman Industries, Inc is a specialized manufacturer of high-quality steel grating products for industrial and commercial applications. The company’s core offerings include industrial bar gratings, stair treads, trench covers, checkered plates and lighting frames. These products are designed to meet stringent safety and durability requirements in sectors such as oil and gas, power generation, wastewater treatment and infrastructure development.

Friedman Industries serves a broad customer base across North America, providing both standard and custom solutions through its manufacturing facilities in Pennsylvania and California.