Friedman Industries (FRD) Declares Quarterly Dividend of $0.01
Friedman Industries (NYSE:FRD) announced a quarterly dividend on Wednesday, September 20th, Wall Street Journal reports. Stockholders of record on Friday, October 13th will be given a dividend of 0.01 per share on Friday, November 17th. This represents a $0.04 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, October 12th.
Friedman Industries has decreased its dividend payment by an average of 56.7% per year over the last three years.
Friedman Industries (NYSE FRD) traded up 0.51% during midday trading on Wednesday, hitting $5.87. The stock had a trading volume of 3,794 shares. The firm’s market capitalization is $41.14 million. The firm has a 50-day moving average price of $5.59 and a 200-day moving average price of $5.81. Friedman Industries has a 1-year low of $5.00 and a 1-year high of $7.29.
Friedman Industries (NYSE:FRD) last posted its earnings results on Monday, August 14th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $23.08 million for the quarter. Friedman Industries had a return on equity of 1.13% and a net margin of 0.74%. On average, equities research analysts anticipate that Friedman Industries will post $1.52 earnings per share for the current year.
A hedge fund recently raised its stake in Friedman Industries stock. Vanguard Group Inc. boosted its position in Friedman Industries (NYSE:FRD) by 15.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,072 shares of the company’s stock after purchasing an additional 22,209 shares during the quarter. Vanguard Group Inc. owned about 2.37% of Friedman Industries worth $944,000 at the end of the most recent reporting period.
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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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