Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Buys $18,441.90 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor bought 1,322 shares of Friedman Industries stock in a transaction on Tuesday, September 17th. The stock was acquired at an average price of $13.95 per share, for a total transaction of $18,441.90. Following the purchase, the chief executive officer now owns 160,976 shares of the company’s stock, valued at $2,245,615.20. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Friedman Industries Trading Up 4.4 %

Shares of Friedman Industries stock traded up $0.61 during trading on Thursday, hitting $14.36. 11,776 shares of the stock traded hands, compared to its average volume of 18,758. The firm has a market cap of $100.09 million, a P/E ratio of 6.01 and a beta of 1.37. Friedman Industries, Incorporated has a 52-week low of $9.50 and a 52-week high of $19.52.

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

Friedman Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.16 dividend on an annualized basis and a yield of 1.11%. Friedman Industries’s dividend payout ratio is presently 6.69%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Friedman Industries

A number of institutional investors have recently made changes to their positions in FRD. Dimensional Fund Advisors LP boosted its holdings in Friedman Industries by 0.3% in the second 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 in the last quarter. Gendell Jeffrey L raised its position in shares of Friedman Industries by 16.4% in the 1st quarter. Gendell Jeffrey L now owns 435,666 shares of the company’s stock valued at $8,164,000 after purchasing an additional 61,339 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Friedman Industries by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock worth $5,464,000 after purchasing an additional 2,245 shares in the last quarter. Acadian Asset Management LLC grew its position in Friedman Industries by 1.0% during the 2nd quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock worth $2,048,000 after purchasing an additional 1,337 shares during the last quarter. Finally, Callahan Advisors LLC grew its holdings in shares of Friedman Industries by 8.6% during the second quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock valued at $817,000 after buying an additional 4,293 shares during the last quarter. Institutional investors and hedge funds own 33.26% of the company’s stock.

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.