Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor Purchases 2,000 Shares of Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired at an average price of $13.50 per share, with a total value of $27,000.00. Following the acquisition, the chief executive officer now owns 164,154 shares of the company’s stock, valued at $2,216,079. This represents a 1.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Friedman Industries Price Performance

FRD opened at $15.10 on Wednesday. Friedman Industries, Incorporated has a 52 week low of $11.15 and a 52 week high of $19.52. The company has a market capitalization of $105.25 million, a PE ratio of 12.97 and a beta of 1.38.

Friedman Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.16 annualized dividend and a dividend yield of 1.06%. Friedman Industries’s payout ratio is 14.04%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FRD. LSV Asset Management purchased a new stake in Friedman Industries during the 2nd quarter valued at about $343,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Friedman Industries during the first quarter valued at approximately $425,000. Empowered Funds LLC boosted its stake in shares of Friedman Industries by 5.3% in 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 during the last quarter. Callahan Advisors LLC lifted its holdings in Friedman Industries by 8.6% in the second quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock valued at $817,000 after acquiring an additional 4,293 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Friedman Industries by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock worth $1,133,000 after purchasing an additional 7,141 shares during the period. 33.26% of the stock is owned by hedge funds and other institutional investors.

Friedman Industries Company Profile

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.