Friedman Industries (NYSE:FRD) declared a quarterly dividend on Wednesday, September 20th, Wall Street Journal reports. Shareholders of record on Friday, October 13th will be paid a dividend of 0.01 per share on Friday, November 17th. This represents a $0.04 dividend on an annualized basis and a 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) opened at 5.87 on Thursday. The company’s market capitalization is $41.14 million. Friedman Industries has a 52 week low of $5.00 and a 52 week high of $7.29. The firm has a 50-day moving average of $5.59 and a 200-day moving average of $5.81.
Friedman Industries (NYSE:FRD) last released its quarterly earnings data on Monday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $23.08 million during the quarter. Friedman Industries had a net margin of 0.74% and a return on equity of 1.13%. Equities analysts expect that Friedman Industries will post $1.52 earnings per share for the current fiscal year.
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A hedge fund recently raised its stake in Friedman Industries stock. Vanguard Group Inc. boosted its holdings in shares of Friedman Industries (NYSE:FRD) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,072 shares of the company’s stock after acquiring an additional 22,209 shares during the quarter. Vanguard Group Inc. owned 2.37% of Friedman Industries worth $944,000 at the end of the most recent quarter.
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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