Friedman Industries (NYSEAMERICAN:FRD) Share Price Crosses Below 50 Day Moving Average of $0.00

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Friedman Industries (NYSEAMERICAN:FRD)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.00 and traded as low as $6.31. Friedman Industries shares last traded at $6.31, with a volume of 520 shares changing hands.

Separately, TheStreet lowered USD Partners from a “b-” rating to a “c+” rating in a report on Friday, May 10th.

Friedman Industries (NYSEAMERICAN:FRD) last released its quarterly earnings results on Monday, July 1st. The company reported ($0.17) earnings per share (EPS) for the quarter. The business had revenue of $42.20 million during the quarter.

The business also recently declared a dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, July 18th. This is a positive change from Friedman Industries’s previous dividend of $0.03.

A number of large investors have recently added to or reduced their stakes in FRD. Shufro Rose & Co. LLC boosted its stake in shares of Friedman Industries by 1.2% in the first quarter. Shufro Rose & Co. LLC now owns 120,637 shares of the company’s stock worth $925,000 after acquiring an additional 1,417 shares during the period. LSV Asset Management boosted its stake in shares of Friedman Industries by 79.5% in the first quarter. LSV Asset Management now owns 101,502 shares of the company’s stock worth $778,000 after acquiring an additional 44,944 shares during the period. Callahan Advisors LLC boosted its stake in shares of Friedman Industries by 7.0% in the second quarter. Callahan Advisors LLC now owns 54,096 shares of the company’s stock worth $377,000 after acquiring an additional 3,542 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of Friedman Industries in the fourth quarter worth about $282,000. Finally, BlackRock Inc. boosted its stake in shares of Friedman Industries by 5.7% in the fourth quarter. BlackRock Inc. now owns 24,378 shares of the company’s stock worth $172,000 after acquiring an additional 1,323 shares during the period.

Friedman Industries Company Profile (NYSEAMERICAN:FRD)

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and steel and pipe distribution activities in the United States. The company operates in two segments, Coil Products and Tubular Products. The Coil Products segment processes hot-roll coils into sheet and plate, as well as customer-owned coils on a fee basis; and sells these products on a wholesale basis.

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