Friedman Industries (FRD) Releases Quarterly Earnings Results
Friedman Industries (NYSE:FRD) released its quarterly earnings data on Monday. The company reported $0.02 earnings per share (EPS) for the quarter, Bloomberg Earnings reports. Friedman Industries had a negative net margin of 1.79% and a negative return on equity of 2.50%. The business had revenue of $23.08 million during the quarter.
Friedman Industries (NYSE:FRD) traded up 0.36% on Tuesday, reaching $5.54. 5,245 shares of the company’s stock were exchanged. The firm’s market cap is $38.83 million. Friedman Industries has a 12 month low of $5.00 and a 12 month high of $7.29. The firm’s 50-day moving average is $5.49 and its 200-day moving average is $5.99.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Friday, July 14th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Wednesday, July 12th.
An institutional investor recently raised its position in Friedman Industries stock. Vanguard Group Inc. increased its position in Friedman Industries (NYSE:FRD) by 15.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 166,072 shares of the company’s stock after buying an additional 22,209 shares during the period. Vanguard Group Inc. owned 2.37% of Friedman Industries worth $944,000 at the end of the most recent quarter.
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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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