Friedman Industries, Incorporated (FRD) to Issue Quarterly Dividend of $0.01
Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Thursday, December 7th, Wall Street Journal reports. Stockholders of record on Friday, January 12th will be given a dividend of 0.01 per share on Friday, February 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, January 11th.
Friedman Industries (NYSEAMERICAN FRD) traded down $0.17 on Thursday, hitting $5.63. 43,900 shares of the stock were exchanged, compared to its average volume of 37,783. Friedman Industries has a 12-month low of $5.05 and a 12-month high of $7.29.
Friedman Industries (NYSEAMERICAN:FRD) last released its quarterly earnings results on Monday, November 13th. The company reported $0.04 EPS for the quarter. Friedman Industries had a net margin of 1.19% and a return on equity of 2.05%. The firm had revenue of $26.08 million during the quarter.
A hedge fund recently raised its stake in Friedman Industries stock. Vanguard Group Inc. boosted its holdings in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 15.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 approximately 2.37% of Friedman Industries worth $944,000 at the end of the most recent reporting period.
Separately, TheStreet upgraded shares of Friedman Industries from a “d+” rating to a “c-” rating in a research report on Tuesday, September 26th.
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About Friedman Industries
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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