Friedman Industries (NYSEAMERICAN:FRD) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Friedman Industries, Incorporated (NYSEAMERICAN:FRDGet Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $19.33 and traded as high as $19.93. Friedman Industries shares last traded at $19.69, with a volume of 13,088 shares.

Friedman Industries Trading Up 0.9%

The business has a 50-day moving average of $20.42 and a 200 day moving average of $19.35. The firm has a market capitalization of $137.24 million, a PE ratio of 24.31 and a beta of 1.40.

Friedman Industries (NYSEAMERICAN:FRDGet Free Report) last posted 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 company had revenue of $152.38 million during the quarter.

Friedman Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 16th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, January 16th. Friedman Industries’s payout ratio is presently 19.75%.

Friedman Industries Company Profile

(Get Free Report)

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.

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