Revenue Update on Friedman Industries(NYSEMKT:FRD)

Friedman Industries(NYSEMKT:FRD) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Jun 29, 2016. Earnings per share were $-0.08.

Friedman Industries (FRD) shares turned negative on Fridays trading session with the shares closing down -0.0187 points or -0.32% at a volume of 2,953. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.836. The peak price level was also seen at $5.836 while the days lowest was $5.8113. Finally the shares closed at $5.8113. The 52-week high of the shares is $6.73 while the 52-week low is $4.35. According to the latest information available, the market cap of the company is $40 M.

Friedman Industries has also declared a cash dividend of $0.0100 on Jun 2, 2016. The shares will quote ex-dividend on Jul 13, 2016 and the record date has been fixed on Jul 15, 2016. The dividend payable date has been fixed on Aug 12, 2016.

Several Insider Transactions has been reported to the SEC. On Feb 20, 2015, Joe L Williams (director) purchased 10,000 shares at $6.38 per share price.

Friedman Industries Incorporated is engaged in steel processing pipe manufacturing and processing and steel and pipe distribution. The Company’s two product groups include 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. It sells coil products and processing services to customers. Its customers include steel distributors and customers fabricating steel products such as storage tanks steel buildings farm machinery and equipment construction equipment transportation equipment conveyors and other similar products. Through its Texas Tubular Products Division (TTP) it manufactures purchases processes and markets tubular products. TTP employs pipes processing equipment including beveling machines pipe handling equipment and other related machinery. Its customers include steel and pipe distributors piling contractors and U.S. Steel Tubular Products Inc.

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