Ritholtz Wealth Management Sells 823 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Ritholtz Wealth Management lessened its position in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 7.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,537 shares of the company’s stock after selling 823 shares during the period. Ritholtz Wealth Management owned 0.15% of Friedman Industries worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FRD. 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 buying an additional 7,141 shares in the last quarter. De Lisle Partners LLP grew its holdings in Friedman Industries by 2.9% in the third 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 period. Empowered Funds LLC increased its stake in Friedman Industries by 5.3% in the third quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after purchasing an additional 1,742 shares in the last quarter. Renaissance Technologies LLC increased its stake in Friedman Industries by 0.6% in the second quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock valued at $5,464,000 after purchasing an additional 2,245 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Friedman Industries by 0.3% during 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 period. Institutional investors own 33.26% of the company’s stock.

Friedman Industries Stock Performance

Shares of FRD stock opened at $14.08 on Thursday. The stock has a market capitalization of $98.14 million, a price-to-earnings ratio of 12.35 and a beta of 1.41. Friedman Industries, Incorporated has a 52 week low of $13.40 and a 52 week high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last released its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter. Friedman Industries had a return on equity of 6.32% and a net margin of 1.71%. The firm had revenue of $106.76 million during the quarter.

Friedman Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, January 17th. This represents a $0.16 annualized dividend and a dividend yield of 1.14%. Friedman Industries’s dividend payout ratio is currently 14.04%.

Insider Transactions at Friedman Industries

In other news, CEO Mike J. Taylor purchased 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was purchased at an average cost of $14.10 per share, with a total value of $35,250.00. Following the acquisition, the chief executive officer now directly owns 169,154 shares in the company, valued at approximately $2,385,071.40. This trade represents a 1.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 7,180 shares of company stock valued at $100,655 over the last three months. Company insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Friedman Industries from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th.

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.