Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its stake in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,794 shares of the company’s stock after buying an additional 1,337 shares during the quarter. Acadian Asset Management LLC owned 1.95% of Friedman Industries worth $2,048,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FRD. Hillsdale Investment Management Inc. acquired a new position in Friedman Industries during the 1st quarter worth about $131,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Friedman Industries during the first quarter worth about $425,000. Janney Montgomery Scott LLC boosted its stake in shares of Friedman Industries by 17.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock valued at $459,000 after purchasing an additional 4,377 shares during the period. Empowered Funds LLC grew its holdings in shares of Friedman Industries by 8.0% in the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock valued at $577,000 after purchasing an additional 2,275 shares in the last quarter. Finally, Callahan Advisors LLC increased its stake in Friedman Industries by 8.6% during the 2nd quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock worth $817,000 after buying an additional 4,293 shares during the period. 33.26% of the stock is currently owned by institutional investors and hedge funds.

Friedman Industries Price Performance

FRD stock opened at $14.86 on Friday. The company has a market cap of $103.57 million, a P/E ratio of 6.22 and a beta of 1.37. Friedman Industries, Incorporated has a fifty-two week low of $9.50 and a fifty-two week high of $19.52.

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

Friedman Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were given a dividend of $0.04 per share. The ex-dividend date was Friday, July 26th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.08%. Friedman Industries’s dividend payout ratio (DPR) is presently 6.69%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Friedman Industries news, Director Joel Spira bought 2,000 shares of Friedman Industries stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average cost of $14.27 per share, with a total value of $28,540.00. Following the completion of the acquisition, the director now owns 16,504 shares of the company’s stock, valued at $235,512.08. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Joel Spira bought 2,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were acquired at an average price of $14.27 per share, with a total value of $28,540.00. Following the completion of the acquisition, the director now owns 16,504 shares in the company, valued at approximately $235,512.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joe L. Williams purchased 3,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were bought at an average price of $14.34 per share, with a total value of $43,020.00. Following the purchase, the director now directly owns 31,574 shares of the company’s stock, valued at $452,771.16. The disclosure for this purchase can be found here. Insiders have acquired 13,908 shares of company stock valued at $204,998 in the last ninety days. 3.80% of the stock is currently owned by company insiders.

Friedman Industries 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.