Friedman Industries (NYSEAMERICAN:FRD) Stock Passes Above 200-Day Moving Average – Time to Sell?

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.62 and traded as high as $19.73. Friedman Industries shares last traded at $18.68, with a volume of 18,157 shares changing hands.

Friedman Industries Price Performance

The business’s 50 day moving average price is $19.93 and its 200 day moving average price is $19.62. The firm has a market cap of $130.20 million, a PE ratio of 23.06 and a beta of 1.40.

Friedman Industries (NYSEAMERICAN:FRD) last issued its quarterly earnings results on Monday, November 10th. The company reported $0.32 earnings per share for the quarter. Friedman Industries had a net margin of 1.27% and a return on equity of 4.44%. The firm had revenue of $152.38 million for the quarter.

Friedman Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 16th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.9%. Friedman Industries’s payout ratio is currently 19.75%.

Friedman Industries Company Profile

Friedman Industries, Inc operates through its subsidiary Shenango Furnace Company, LLC, as a manufacturer and distributor of industrial steel products in the United States. The company’s core business centers on the production of flat-rolled steel, including reload coils, case load coils and hook plate, which are custom-engineered to meet the specifications of heavy-duty and critical-service applications. Its facilities are designed to handle a wide variety of steel grades and specialty finishes, enabling it to serve demanding end-use markets.

Friedman Industries supplies steel products to customers in the oil and gas, agricultural equipment, heavy machinery and automotive sectors.