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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Max Alan Reichenthal acquired 2,000 shares of Friedman Industries stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average price 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 $430,654. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

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 shares were bought at an average price of $14.89 per share, for a total transaction of $29,780.00.

Friedman Industries Trading Up 4.4 %

NYSEAMERICAN FRD traded up $0.61 on Thursday, hitting $14.36. 11,776 shares of the stock were exchanged, compared to its average volume of 18,758. The firm has a market capitalization of $100.09 million, a P/E ratio of 5.75 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 issued its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%. The company had revenue of $114.55 million for the quarter.

Friedman Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were given 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 dividend yield of 1.11%. Friedman Industries’s payout ratio is 6.69%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. 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 valued at $2,048,000 after acquiring an additional 1,337 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Friedman Industries by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock valued at $8,482,000 after purchasing an additional 1,591 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of 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 purchasing an additional 2,245 shares during the period. Empowered Funds LLC lifted its holdings in Friedman Industries by 8.0% during the 1st quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after purchasing an additional 2,275 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Friedman Industries by 9.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock valued at $610,000 after purchasing an additional 2,859 shares during the period. 33.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.