Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Shares Acquired by De Lisle Partners LLP

De Lisle Partners LLP raised its holdings in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 419,816 shares of the company’s stock after purchasing an additional 11,689 shares during the quarter. Friedman Industries accounts for 1.1% of De Lisle Partners LLP’s portfolio, making the stock its 22nd largest position. De Lisle Partners LLP owned 6.02% of Friedman Industries worth $6,644,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LSV Asset Management bought a new position in Friedman Industries during the 2nd quarter worth approximately $343,000. Empowered Funds LLC boosted its holdings in Friedman Industries by 5.3% in the third quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock worth $559,000 after purchasing an additional 1,742 shares during the period. Callahan Advisors LLC increased its stake in Friedman Industries by 8.6% during the second quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock valued at $817,000 after purchasing an additional 4,293 shares during the last quarter. Acadian Asset Management LLC increased its stake in Friedman Industries by 1.0% during the second quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock valued at $2,048,000 after purchasing an additional 1,337 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Friedman Industries by 0.6% during the second quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock worth $5,464,000 after purchasing an additional 2,245 shares during the period. 33.26% of the stock is currently owned by hedge funds and other institutional investors.

Friedman Industries Trading Down 2.0 %

Shares of NYSEAMERICAN:FRD opened at $14.80 on Thursday. The company has a market cap of $103.16 million, a P/E ratio of 13.25 and a beta of 1.38. Friedman Industries, Incorporated has a 12 month low of $11.15 and a 12 month high of $19.52.

Friedman Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were given a dividend of $0.04 per share. The ex-dividend date was Friday, October 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.08%. Friedman Industries’s dividend payout ratio (DPR) is presently 14.04%.

Analyst Ratings Changes

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

Insider Transactions at Friedman Industries

In other news, CEO Mike J. Taylor acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $27,000.00. Following the completion of the acquisition, the chief executive officer now owns 164,154 shares in the company, valued at approximately $2,216,079. The trade was a 1.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 7,065 shares of company stock valued at $98,156 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

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.