Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Purchases $28,710.00 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor purchased 1,980 shares of the stock in a transaction on Monday, January 13th. The shares were purchased at an average price of $14.50 per share, with a total value of $28,710.00. Following the acquisition, the chief executive officer now owns 166,134 shares in the company, valued at approximately $2,408,943. The trade was a 1.21 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Friedman Industries Stock Up 1.7 %

Shares of NYSEAMERICAN:FRD traded up $0.24 during mid-day trading on Wednesday, hitting $14.20. The company had a trading volume of 16,849 shares, compared to its average volume of 8,824. The firm has a market capitalization of $98.97 million, a P/E ratio of 12.46 and a beta of 1.41. Friedman Industries, Incorporated has a one year low of $13.40 and a one year high of $19.52.

Friedman Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 17th will be paid a $0.04 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.16 annualized dividend and a dividend yield of 1.13%. Friedman Industries’s dividend payout ratio is currently 14.04%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Friedman Industries

Several hedge funds have recently modified their holdings of FRD. Empowered Funds LLC grew its position in Friedman Industries by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after purchasing an additional 1,742 shares during the period. Geode Capital Management LLC grew its position in Friedman Industries by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after purchasing an additional 7,141 shares during the period. Renaissance Technologies LLC grew its position in Friedman Industries by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock valued at $5,464,000 after purchasing an additional 2,245 shares during the period. De Lisle Partners LLP grew its position in Friedman Industries by 2.9% in the 3rd quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after purchasing an additional 11,689 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Friedman Industries by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock valued at $8,482,000 after purchasing an additional 1,591 shares during the period. Institutional investors own 33.26% of the company’s stock.

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.