Mike J. Taylor Purchases 2,000 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $27,000.00. Following the transaction, the chief executive officer now owns 164,154 shares of the company’s stock, valued at approximately $2,216,079. This represents a 1.23 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Friedman Industries Trading Up 2.1 %

Shares of Friedman Industries stock traded up $0.32 during midday trading on Monday, hitting $15.40. The company had a trading volume of 6,410 shares, compared to its average volume of 17,205. The company has a market cap of $107.34 million, a price-to-earnings ratio of 13.23 and a beta of 1.38. Friedman Industries, Incorporated has a 1-year low of $11.15 and a 1-year high of $19.52.

Friedman Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.16 dividend on an annualized basis and a yield of 1.04%. Friedman Industries’s dividend payout ratio is currently 14.04%.

Institutional Investors Weigh In On Friedman Industries

A number of institutional investors have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC acquired a new stake in shares of Friedman Industries in the 1st quarter valued at $425,000. Renaissance Technologies LLC raised its holdings in shares of Friedman Industries by 0.6% in the second quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock valued at $5,464,000 after buying an additional 2,245 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Friedman Industries by 1.0% in the second quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock valued at $2,048,000 after buying an additional 1,337 shares during the last quarter. LSV Asset Management bought a new position in shares of Friedman Industries in the second quarter valued at about $343,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Friedman Industries by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock valued at $8,482,000 after buying an additional 1,591 shares during the last quarter. Institutional investors and hedge funds own 33.26% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Friedman Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

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.