Friedman Industries, Incorporated Announces Quarterly Dividend of $0.04 (NYSEAMERICAN:FRD)

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) announced a quarterly dividend on Wednesday, September 18th, Wall Street Journal reports. Shareholders of record on Friday, October 25th will be given a dividend of 0.04 per share on Friday, November 15th. This represents a $0.16 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, October 25th.

Friedman Industries Price Performance

FRD stock opened at $14.43 on Thursday. Friedman Industries has a fifty-two week low of $9.50 and a fifty-two week high of $19.52. The stock has a market capitalization of $100.58 million, a P/E ratio of 8.39 and a beta of 1.37.

Friedman Industries (NYSEAMERICAN:FRD) last released its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $114.55 million during the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%.

Insider Buying and Selling at Friedman Industries

In other Friedman Industries news, Director Max Alan Reichenthal bought 2,000 shares of Friedman Industries stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average cost of $14.00 per share, with a total value of $28,000.00. Following the acquisition, the director now directly owns 30,761 shares of the company’s stock, valued at $430,654. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 6,365 shares of company stock valued at $91,241. 4.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Friedman Industries from a “hold” rating to a “buy” rating in a research note on Monday.

Friedman Industries Company Profile

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils.