Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Purchases $35,250.00 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor purchased 2,500 shares of Friedman Industries stock in a transaction that occurred on Wednesday, January 15th. The shares were acquired at an average price of $14.10 per share, with a total value of $35,250.00. Following the acquisition, the chief executive officer now directly owns 169,154 shares of the company’s stock, valued at $2,385,071.40. This trade represents a 1.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Friedman Industries Price Performance

FRD stock opened at $13.95 on Friday. The firm has a market cap of $97.23 million, a price-to-earnings ratio of 12.24 and a beta of 1.41. Friedman Industries, Incorporated has a one year low of $13.40 and a one year high of $19.52.

Friedman Industries Dividend Announcement

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 issued a $0.04 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.16 annualized dividend and a yield of 1.15%. Friedman Industries’s dividend payout ratio is currently 14.04%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Friedman Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th.

Institutional Investors Weigh In On Friedman Industries

Several hedge funds have recently bought and sold shares of FRD. De Lisle Partners LLP increased its position in Friedman Industries by 2.9% during the 3rd quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock worth $6,644,000 after buying an additional 11,689 shares during the period. Geode Capital Management LLC grew its stake in shares of Friedman Industries by 11.2% in the third quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after acquiring an additional 7,141 shares in the last quarter. Renaissance Technologies LLC increased its position in Friedman Industries by 0.6% during the second 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 during the period. Empowered Funds LLC raised its stake in 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 purchasing an additional 1,742 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Friedman Industries by 0.3% in 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 period. 33.26% of the stock is currently owned by institutional investors and hedge funds.

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.