Friedman Industries, Incorporated (FRD) to Issue Quarterly Dividend of $0.04 on November 15th

Posted by Teresa Graham on Oct 23rd, 2024

Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Free Report) announced a quarterly dividend on Wednesday, September 18th, Wall Street Journal reports. Shareholders of record on Friday, October 25th will be paid a dividend of 0.04 per share on Friday, November 15th. This represents a $0.16 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, October 25th.

Friedman Industries Price Performance

NYSEAMERICAN FRD opened at $13.94 on Wednesday. The stock has a market cap of $97.16 million, a PE ratio of 8.10 and a beta of 1.37. Friedman Industries has a 12 month low of $9.50 and a 12 month high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last released its quarterly earnings data 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 business had revenue of $114.55 million during the quarter.

Insider Buying and Selling

In related news, Director Max Alan Reichenthal bought 2,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average price of $14.00 per share, for a total transaction of $28,000.00. Following the completion of the purchase, the director now owns 30,761 shares in the company, valued at $430,654. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders acquired 6,365 shares of company stock valued at $91,241. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Friedman Industries from a “hold” rating to a “buy” rating in a research note on Monday.

Read Our Latest Stock Report on Friedman Industries

Friedman Industries Company Profile

(Get Free Report)

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.