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Friedman Industries, Inc. (FRD) Shares Cross Below Book Value

By Market News Video Staff, Thursday, September 22, 1:23 PM ET
Play Video: The Importance of Book Value


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In trading on Thursday, shares of Friedman Industries, Inc. (AMEX:FRD) crossed below their last reported book value defined as common shareholder equity per share of $8.79, changing hands as low as $8.70 per share. Friedman Industries, Inc. shares are currently trading off about 1.6% on the day. The chart below shows the one year performance of FRD shares, versus its 50 and 200 day moving averages:

Friedman Industries, Inc. Moving Averages Chart

Looking at the chart above, FRD's low point in its 52 week range is $6.50 per share, with $12.95 as the 52 week high point that compares with a last trade of $8.77.

FRD operates in the Non-Precious Metals & Non-Metallic Mining sector, among companies like Steel Dynamics Inc. (NASDAQ:STLD) which is off about 5.2% today, and Titanium Metals Corp. (TIE) trading lower by about 3.2%. Below is a three month price history chart comparing the stock performance of FRD, versus STLD and TIE.

FRD,STLD,TIE Relative Performance Chart


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