Friedman Industries, Incorporated (FRD) to Issue Quarterly Dividend of $0.04 on November 15th

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Investors 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 yield of 1.06%. The ex-dividend date is Friday, October 25th.

Friedman Industries Price Performance

Friedman Industries stock opened at $15.03 on Friday. Friedman Industries has a one year low of $9.50 and a one year high of $19.52. The firm has a market capitalization of $104.76 million, a price-to-earnings ratio of 6.29 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Friedman Industries news, Director Joel Spira purchased 2,000 shares of the stock in a transaction on Tuesday, June 25th. The stock was bought at an average price of $14.27 per share, for a total transaction of $28,540.00. Following the acquisition, the director now directly owns 16,504 shares of the company’s stock, valued at $235,512.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Joel Spira acquired 2,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was bought at an average cost of $14.27 per share, with a total value of $28,540.00. Following the purchase, the director now directly owns 16,504 shares of the company’s stock, valued at $235,512.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joe L. Williams acquired 3,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were purchased at an average price of $14.34 per share, with a total value of $43,020.00. Following the completion of the acquisition, the director now owns 31,574 shares in the company, valued at $452,771.16. The disclosure for this purchase can be found here. Insiders acquired a total of 16,365 shares of company stock valued at $235,301 over the last quarter. Company 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.