Janus Henderson Group PLC Sells 726 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Janus Henderson Group PLC lessened its stake in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 5.6% during the 3rd quarter, Holdings Channel reports. The fund owned 12,146 shares of the company’s stock after selling 726 shares during the period. Janus Henderson Group PLC’s holdings in Friedman Industries were worth $195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FRD. Empowered Funds LLC grew its position in shares of Friedman Industries by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock worth $559,000 after buying an additional 1,742 shares during the last quarter. De Lisle Partners LLP boosted its stake in Friedman Industries by 2.9% in the third quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after acquiring an additional 11,689 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Friedman Industries by 0.6% in the second quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock worth $5,464,000 after purchasing an additional 2,245 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Friedman Industries by 1.0% during the second quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock worth $2,048,000 after purchasing an additional 1,337 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Friedman Industries by 0.3% during the 2nd 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 last quarter. 33.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Mike J. Taylor bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $13.50 per share, for a total transaction of $27,000.00. Following the completion of the transaction, the chief executive officer now directly owns 164,154 shares in the company, valued at approximately $2,216,079. This represents a 1.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 6,022 shares of company stock valued at $83,137. Insiders own 4.60% of the company’s stock.

Friedman Industries Stock Performance

Shares of FRD stock opened at $15.77 on Monday. Friedman Industries, Incorporated has a fifty-two week low of $13.01 and a fifty-two week high of $19.52. The stock has a market cap of $109.92 million, a PE ratio of 13.83 and a beta of 1.41.

Friedman Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, January 17th. This represents a $0.16 dividend on an annualized basis and a yield of 1.01%. Friedman Industries’s payout ratio is 14.04%.

Analyst Upgrades and Downgrades

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