Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Plans Quarterly Dividend of $0.04

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Stockholders of record on Friday, October 25th will be given a dividend of 0.04 per share on Friday, November 15th. This represents a $0.16 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, October 25th.

Friedman Industries Stock Performance

NYSEAMERICAN FRD traded up $0.51 during trading hours on Thursday, hitting $14.26. The company’s stock had a trading volume of 16,229 shares, compared to its average volume of 18,781. Friedman Industries has a 12 month low of $9.50 and a 12 month high of $19.52. The company has a market capitalization of $99.39 million, a price-to-earnings ratio of 6.01 and a beta of 1.37.

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. The company had revenue of $114.55 million for the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%.

Insider Activity

In other Friedman Industries news, CEO Mike J. Taylor purchased 5,000 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was acquired at an average cost of $14.50 per share, for a total transaction of $72,500.00. Following the purchase, the chief executive officer now directly owns 157,154 shares of the company’s stock, valued at approximately $2,278,733. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Joel Spira acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were acquired at an average cost of $14.27 per share, with a total value of $28,540.00. Following the acquisition, the director now directly owns 16,504 shares of the company’s stock, valued at $235,512.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mike J. Taylor bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was acquired at an average cost of $14.50 per share, with a total value of $72,500.00. Following the completion of the acquisition, the chief executive officer now owns 157,154 shares of the company’s stock, valued at approximately $2,278,733. The disclosure for this purchase can be found here. Insiders have acquired 16,365 shares of company stock worth $235,301 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Friedman Industries from a “buy” rating to a “hold” rating in a research report on Tuesday.

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.