Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) CEO Mike J. Taylor bought 1,043 shares of the stock in a transaction dated Thursday, September 12th. The shares were purchased at an average cost of $14.40 per share, for a total transaction of $15,019.20. Following the completion of the transaction, the chief executive officer now directly owns 159,654 shares of the company's stock, valued at $2,299,017.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Friedman Industries Price Performance
FRD stock opened at $14.54 on Tuesday. The stock has a market cap of $101.34 million, a price-to-earnings ratio of 6.08 and a beta of 1.37. Friedman Industries, Incorporated has a 52-week low of $9.50 and a 52-week high of $19.52.
Friedman Industries (NYSEAMERICAN:FRD - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter. Friedman Industries had a return on equity of 9.65% and a net margin of 2.48%. The business had revenue of $114.55 million during the quarter.
Friedman Industries Announces Dividend
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The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, July 26th. Friedman Industries's payout ratio is currently 6.69%.
Institutional Investors Weigh In On Friedman Industries
Institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in Friedman Industries by 8.0% in the 1st 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 during the period. Janney Montgomery Scott LLC grew its position in Friedman Industries by 17.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company's stock valued at $459,000 after buying an additional 4,377 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Friedman Industries during the first quarter worth about $425,000. Hillsdale Investment Management Inc. bought a new stake in Friedman Industries in the first quarter worth about $131,000. Finally, Acadian Asset Management LLC boosted its stake in Friedman Industries by 1.0% in the second quarter. Acadian Asset Management LLC now owns 135,794 shares of the company's stock valued at $2,048,000 after acquiring an additional 1,337 shares during the last quarter. 33.26% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Friedman Industries from a "buy" rating to a "hold" rating in a report on Tuesday.
Check Out Our Latest Stock Analysis on Friedman Industries
About Friedman Industries
(
Get Free Report)
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.
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