Friedman Industries Inc. (FRD) to Issue Quarterly Dividend of $0.04 on February 13th

Friedman Industries Inc. (NASDAQ:FRD) declared a quarterly dividend on Tuesday, December 16th, NASDAQ Dividends reports. Stockholders of record on Friday, January 16th will be paid a dividend of 0.04 per share on Friday, February 13th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, January 16th.

Friedman Industries has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 1 consecutive years.

Friedman Industries Stock Performance

FRD traded up $0.35 during trading hours on Wednesday, hitting $19.86. 1,347 shares of the stock were exchanged, compared to its average volume of 12,604. The stock has a 50-day simple moving average of $20.33 and a 200-day simple moving average of $19.42. Friedman Industries has a 12 month low of $12.24 and a 12 month high of $23.50. The stock has a market cap of $141.20 million, a price-to-earnings ratio of 12.26 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 0.98.

Friedman Industries (NASDAQ:FRD) last issued its earnings results on Monday, November 10th. The company reported $0.32 earnings per share for the quarter. Friedman Industries had a net margin of 2.25% and a return on equity of 8.55%. The company had revenue of $152.38 million for the quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen lowered Friedman Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Friedman Industries in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

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.