Jones Financial Companies Lllp Takes $28,000 Position in Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Jones Financial Companies Lllp bought a new stake in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,810 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Friedman Industries by 11.2% during 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 last quarter. Empowered Funds LLC boosted its holdings in shares of Friedman Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock worth $559,000 after purchasing an additional 1,742 shares during the last quarter. De Lisle Partners LLP boosted its holdings in shares of Friedman Industries by 2.9% during the 3rd quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock worth $6,644,000 after purchasing an additional 11,689 shares during the last quarter. Finally, Callahan Advisors LLC boosted its holdings in shares of Friedman Industries by 3.3% during the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock worth $823,000 after purchasing an additional 1,712 shares during the last quarter. 33.26% of the stock is currently owned by institutional investors and hedge funds.

Friedman Industries Stock Performance

Shares of Friedman Industries stock opened at $17.19 on Thursday. The company has a market cap of $119.81 million, a PE ratio of 21.22 and a beta of 1.40. Friedman Industries, Incorporated has a 1-year low of $13.40 and a 1-year high of $19.52.

Friedman Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.93%. Friedman Industries’s payout ratio is presently 19.75%.

Insider Activity

In other news, Director Tim Scott Stevenson bought 1,500 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were bought at an average price of $17.23 per share, with a total value of $25,845.00. Following the completion of the transaction, the director now directly owns 28,675 shares in the company, valued at $494,070.25. This trade represents a 5.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mike J. Taylor bought 1,980 shares of the business’s stock in a transaction on Monday, January 13th. The stock was purchased at an average cost of $14.50 per share, for a total transaction of $28,710.00. Following the transaction, the chief executive officer now owns 166,134 shares of the company’s stock, valued at $2,408,943. This trade represents a 1.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 7,180 shares of company stock valued at $106,922. 4.60% of the stock is currently owned by company insiders.

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.