Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) CEO Mike J. Taylor purchased 1,322 shares of the business's stock in a transaction on Tuesday, September 17th. The stock was purchased at an average cost of $13.95 per share, for a total transaction of $18,441.90. Following the acquisition, the chief executive officer now owns 160,976 shares in the company, valued at $2,245,615.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Friedman Industries Stock Performance
Shares of FRD stock opened at $14.26 on Friday. Friedman Industries, Incorporated has a fifty-two week low of $9.50 and a fifty-two week high of $19.52. The company has a market capitalization of $99.39 million, a PE ratio of 5.97 and a beta of 1.37.
Friedman Industries (NYSEAMERICAN:FRD - Get Free Report) last issued its quarterly earnings data 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.
Friedman Industries Dividend Announcement
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The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, October 25th. Friedman Industries's payout ratio is currently 6.69%.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Friedman Industries from a "buy" rating to a "hold" rating in a research note on Tuesday.
View Our Latest Analysis on FRD
Institutional Trading of Friedman Industries
Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in shares of Friedman Industries by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 361,882 shares of the company's stock worth $5,464,000 after acquiring an additional 2,245 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 last quarter. LSV Asset Management bought a new stake in shares of Friedman Industries in the 2nd quarter worth approximately $343,000. Acadian Asset Management LLC boosted its position in shares of Friedman Industries by 1.0% in the 2nd 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, Callahan Advisors LLC grew its stake in shares of Friedman Industries by 8.6% in the 2nd quarter. Callahan Advisors LLC now owns 54,131 shares of the company's stock worth $817,000 after buying an additional 4,293 shares during the last quarter. 33.26% of the stock is owned by institutional investors.
Friedman Industries Company Profile
(
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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