Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor Buys 2,500 Shares

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor purchased 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was purchased at an average cost of $14.10 per share, with a total value of $35,250.00. Following the completion of the acquisition, the chief executive officer now owns 169,154 shares in the company, valued at approximately $2,385,071.40. This trade represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Friedman Industries Stock Up 0.3 %

Shares of NYSEAMERICAN FRD opened at $13.95 on Monday. The stock has a market cap of $97.23 million, a PE ratio of 12.24 and a beta of 1.41. Friedman Industries, Incorporated has a 12 month low of $13.40 and a 12 month high of $19.52.

Friedman Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 17th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, January 17th. Friedman Industries’s payout ratio is 14.04%.

Institutional Trading of Friedman Industries

Several institutional investors and hedge funds have recently made changes to their positions in FRD. Geode Capital Management LLC increased 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 purchasing an additional 7,141 shares during the last quarter. De Lisle Partners LLP boosted its stake 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 buying an additional 11,689 shares in the last quarter. Empowered Funds LLC grew its position in Friedman Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after acquiring an additional 1,742 shares during the last quarter. Renaissance Technologies LLC raised its stake 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 acquiring an additional 2,245 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Friedman Industries by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock worth $8,482,000 after acquiring an additional 1,591 shares during the last quarter. Hedge funds and other institutional investors own 33.26% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Friedman Industries from a “hold” rating to a “buy” rating in a research note 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.