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

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

Friedman Industries Stock Up 3.7 %

Shares of Friedman Industries stock opened at $14.26 on Friday. Friedman Industries has a 1-year low of $9.50 and a 1-year high of $19.52. The firm has a market capitalization of $99.39 million, a PE ratio of 5.97 and a beta of 1.37.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Joel Spira purchased 2,000 shares of Friedman Industries stock in a transaction that occurred on Tuesday, June 25th. The shares were acquired at an average price of $14.27 per share, for a total transaction of $28,540.00. Following the transaction, the director now directly owns 16,504 shares in the company, valued at $235,512.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Friedman Industries news, CEO Mike J. Taylor bought 5,000 shares of Friedman Industries stock in a transaction dated Tuesday, July 2nd. The shares were bought at an average price of $14.50 per share, with a total value of $72,500.00. Following the purchase, the chief executive officer now owns 157,154 shares of the company’s stock, valued at $2,278,733. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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, for a total transaction of $28,540.00. Following the purchase, the director now directly owns 16,504 shares in the company, valued at approximately $235,512.08. The disclosure for this purchase can be found here. Insiders have purchased a total of 16,365 shares of company stock worth $235,301 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.

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.