Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Tim Scott Stevenson Buys 1,500 Shares

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Tim Scott Stevenson acquired 1,500 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was acquired at an average cost of $17.23 per share, with a total value of $25,845.00. Following the acquisition, the director now owns 28,675 shares of the company’s stock, valued at $494,070.25. This trade represents a 5.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Friedman Industries Stock Performance

Shares of FRD traded up $0.38 during midday trading on Tuesday, hitting $17.18. 17,751 shares of the stock traded hands, compared to its average volume of 14,387. Friedman Industries, Incorporated has a 1-year low of $13.40 and a 1-year high of $19.52. The company has a market cap of $119.74 million, a price-to-earnings ratio of 15.07 and a beta of 1.40.

Friedman Industries (NYSEAMERICAN:FRD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter. Friedman Industries had a net margin of 1.71% and a return on equity of 6.32%. The firm had revenue of $106.76 million for the quarter.

Friedman Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 17th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, January 17th. Friedman Industries’s payout ratio is currently 14.04%.

Institutional Investors Weigh In On Friedman Industries

Institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new stake in Friedman Industries in the fourth quarter worth about $28,000. Corient Private Wealth LLC bought a new stake in Friedman Industries in the fourth quarter worth about $401,000. Inspire Advisors LLC bought a new stake in Friedman Industries in the fourth quarter worth about $422,000. Empowered Funds LLC raised its position 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 acquiring an additional 1,742 shares in the last quarter. Finally, Callahan Advisors LLC raised its position in Friedman Industries by 3.3% in the fourth quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock worth $823,000 after acquiring an additional 1,712 shares in the last quarter. Institutional investors and hedge funds own 33.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Friedman Industries

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.