Friedman Industries (FRD) Posts Earnings Results
Friedman Industries (NYSE:FRD) issued its quarterly earnings results on Monday. The company reported $0.04 earnings per share for the quarter, Bloomberg Earnings reports. Friedman Industries had a net margin of 0.74% and a return on equity of 1.13%.
Shares of Friedman Industries (NYSE FRD) traded up $0.05 during trading on Tuesday, hitting $5.80. 24,599 shares of the stock were exchanged, compared to its average volume of 14,274. Friedman Industries has a 12 month low of $5.05 and a 12 month high of $7.29.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, October 12th.
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Separately, TheStreet raised shares of Friedman Industries from a “d+” rating to a “c-” rating in a report on Tuesday, September 26th.
An institutional investor recently raised its position in Friedman Industries stock. Vanguard Group Inc. boosted its stake in Friedman Industries (NYSE:FRD) by 15.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,072 shares of the company’s stock after purchasing an additional 22,209 shares during the period. Vanguard Group Inc. owned about 2.37% of Friedman Industries worth $944,000 at the end of the most recent quarter.
Friedman Industries Company Profile
Friedman Industries, Incorporated is engaged in steel processing, pipe manufacturing and processing and steel and pipe distribution. The Company has two product groups: coil and tubular products. It purchases prime hot-rolled steel coils, processes the coils into flat, finished sheet and plate, and sells these products on a wholesale, rapid-delivery basis in competition with steel mills, importers and steel service centers.
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