Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Acquires $25,845.00 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Tim Scott Stevenson bought 1,500 shares of Friedman Industries stock in a transaction dated Tuesday, February 11th. The shares were acquired at an average cost of $17.23 per share, with a total value of $25,845.00. Following the completion of the purchase, the director now owns 28,675 shares in the company, valued at approximately $494,070.25. This trade represents a 5.52 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Friedman Industries Price Performance

NYSEAMERICAN FRD opened at $16.96 on Thursday. Friedman Industries, Incorporated has a one year low of $13.40 and a one year high of $19.52. The firm has a market capitalization of $118.21 million, a P/E ratio of 14.88 and a beta of 1.40.

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

Friedman Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 17th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, January 17th. Friedman Industries’s dividend payout ratio is currently 14.04%.

Institutional Trading of Friedman Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in shares of Friedman Industries during the 4th quarter worth $28,000. Corient Private Wealth LLC purchased a new position in shares of Friedman Industries during the 4th quarter worth $401,000. Inspire Advisors LLC purchased a new position in shares of Friedman Industries during the 4th quarter worth $422,000. Empowered Funds LLC raised 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 acquiring an additional 1,742 shares during the period. Finally, Callahan Advisors LLC raised 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 acquiring an additional 1,712 shares during the period. 33.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised Friedman Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th.

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.