Mike J. Taylor Purchases 1,908 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 1,908 shares of Friedman Industries stock in a transaction dated Monday, June 17th. The stock was bought at an average price of $16.33 per share, with a total value of $31,157.64. Following the completion of the purchase, the chief executive officer now directly owns 152,154 shares in the company, valued at $2,484,674.82. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Friedman Industries Stock Down 2.9 %

Shares of FRD stock opened at $15.74 on Wednesday. Friedman Industries, Incorporated has a 52-week low of $9.50 and a 52-week high of $19.52. The firm has a market capitalization of $109.71 million, a price-to-earnings ratio of 6.59 and a beta of 1.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC bought a new position in shares of Friedman Industries in the 3rd quarter valued at about $339,000. Acadian Asset Management LLC lifted its holdings in shares of Friedman Industries by 20.4% in the 3rd quarter. Acadian Asset Management LLC now owns 137,027 shares of the company’s stock valued at $1,834,000 after acquiring an additional 23,250 shares during the last quarter. EAM Investors LLC bought a new position in shares of Friedman Industries in the 3rd quarter valued at about $1,165,000. Gendell Jeffrey L lifted its holdings in shares of Friedman Industries by 9.7% in the 3rd quarter. Gendell Jeffrey L now owns 353,387 shares of the company’s stock valued at $4,735,000 after acquiring an additional 31,142 shares during the last quarter. Finally, AJOVista LLC bought a new position in shares of Friedman Industries in the 4th quarter valued at about $49,000. Institutional investors own 33.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Friedman Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

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.