Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Max Alan Reichenthal Acquires 2,000 Shares

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Max Alan Reichenthal acquired 2,000 shares of Friedman Industries stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $14.00 per share, with a total value of $28,000.00. Following the completion of the purchase, the director now owns 30,761 shares in the company, valued at approximately $430,654. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Max Alan Reichenthal also recently made the following trade(s):

• On Friday, August 16th, Max Alan Reichenthal bought 2,000 shares of Friedman Industries stock. The stock was acquired at an average price of $14.89 per share, for a total transaction of $29,780.00.

Friedman Industries Stock Performance

Friedman Industries stock opened at $15.03 on Friday. Friedman Industries, Incorporated has a 12 month low of $9.50 and a 12 month high of $19.52. The firm has a market cap of $104.76 million, a PE ratio of 6.29 and a beta of 1.37.

Friedman Industries (NYSEAMERICAN:FRD) last issued its earnings results on Thursday, August 8th. The company reported $0.37 EPS for the quarter. Friedman Industries had a return on equity of 9.65% and a net margin of 2.48%. The firm had revenue of $114.55 million for the quarter.

Friedman Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.16 dividend on an annualized basis and a yield of 1.06%. Friedman Industries’s dividend payout ratio is currently 6.69%.

Hedge Funds Weigh In On Friedman Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FRD. Renaissance Technologies LLC increased its position 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 buying an additional 2,245 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Friedman Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock worth $8,482,000 after purchasing an additional 1,591 shares during the period. LSV Asset Management acquired a new position in Friedman Industries in the 2nd quarter valued at $343,000. Acadian Asset Management LLC raised its holdings in Friedman Industries by 1.0% in the 2nd quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock worth $2,048,000 after acquiring an additional 1,337 shares during the period. Finally, Callahan Advisors LLC lifted its position in Friedman Industries by 8.6% during the 2nd quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock worth $817,000 after acquiring an additional 4,293 shares during the last quarter. Institutional investors own 33.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Friedman Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th.

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.