Friedman Industries (NYSEAMERICAN:FRD) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

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 $0.00 and traded as high as $15.75. Friedman Industries shares last traded at $15.70, with a volume of 16,482 shares trading hands.

Friedman Industries Stock Performance

The company has a market capitalization of $105.11 million, a PE ratio of 18.62 and a beta of 1.40.

Friedman Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, April 25th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, April 25th. Friedman Industries’s dividend payout ratio is presently 19.75%.

Insiders Place Their Bets

In related news, CEO Mike J. Taylor bought 1,980 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average price of $14.50 per share, for a total transaction of $28,710.00. Following the acquisition, the chief executive officer now owns 166,134 shares of the company’s stock, valued at approximately $2,408,943. This trade represents a 1.21 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tim Scott Stevenson bought 1,500 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was purchased at an average cost of $17.23 per share, for a total transaction of $25,845.00. Following the transaction, the director now owns 28,675 shares of the company’s stock, valued at $494,070.25. This trade represents a 5.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 7,180 shares of company stock valued at $106,922 over the last quarter. 4.60% of the stock is owned by insiders.

Institutional Trading of Friedman Industries

Hedge funds have recently made changes to their positions in the business. Mink Brook Asset Management LLC purchased a new stake in Friedman Industries during the 4th quarter worth approximately $2,885,000. Bridgeway Capital Management LLC raised its holdings in Friedman Industries by 0.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 157,850 shares of the company’s stock valued at $2,414,000 after acquiring an additional 651 shares in the last quarter. LSV Asset Management grew its holdings in Friedman Industries by 21.1% during the 4th quarter. LSV Asset Management now owns 72,700 shares of the company’s stock worth $1,112,000 after acquiring an additional 12,663 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Friedman Industries by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after purchasing an additional 7,141 shares in the last quarter. Finally, Callahan Advisors LLC raised its holdings in shares of Friedman Industries by 3.3% in the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock valued at $823,000 after purchasing an additional 1,712 shares in the last quarter. Institutional investors and hedge funds 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.