Insider Buying: Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Purchases 2,500 Shares of Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 2,500 shares of Friedman Industries stock in a transaction that occurred on Wednesday, January 15th. The stock was acquired at an average cost of $14.10 per share, for a total transaction of $35,250.00. Following the purchase, the chief executive officer now owns 169,154 shares of the company’s stock, valued at $2,385,071.40. The trade was a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Friedman Industries Price Performance

Shares of Friedman Industries stock traded up $0.04 during midday trading on Friday, reaching $13.95. The company had a trading volume of 21,000 shares, compared to its average volume of 10,655. Friedman Industries, Incorporated has a fifty-two week low of $13.40 and a fifty-two week high of $19.52. The firm has a market cap of $97.23 million, a P/E ratio of 12.24 and a beta of 1.41.

Friedman Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 17th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, January 17th. Friedman Industries’s dividend payout ratio (DPR) is presently 14.04%.

Institutional Trading of Friedman Industries

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of Friedman Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock worth $559,000 after buying an additional 1,742 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Friedman Industries by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after acquiring an additional 7,141 shares during the period. Renaissance Technologies LLC boosted its stake in 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 acquiring an additional 2,245 shares in the last quarter. De Lisle Partners LLP grew its holdings in Friedman Industries by 2.9% in the third quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock worth $6,644,000 after purchasing an additional 11,689 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 1,591 shares in the last quarter. Institutional investors own 33.26% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised 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.