Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor Buys 2,000 Shares of Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor purchased 2,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average price of $13.50 per share, for a total transaction of $27,000.00. Following the acquisition, the chief executive officer now owns 164,154 shares of the company’s stock, valued at $2,216,079. This trade represents a 1.23 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Friedman Industries Price Performance

NYSEAMERICAN:FRD opened at $15.05 on Tuesday. Friedman Industries, Incorporated has a fifty-two week low of $11.15 and a fifty-two week high of $19.52. The company has a market cap of $104.90 million, a price-to-earnings ratio of 13.20 and a beta of 1.38.

Friedman Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.16 annualized dividend and a dividend yield of 1.06%. Friedman Industries’s dividend payout ratio is currently 14.04%.

Institutional Trading of Friedman Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC acquired a new stake in shares of Friedman Industries in the 1st quarter worth about $425,000. LSV Asset Management bought a new position in Friedman Industries during the 2nd quarter valued at $343,000. Empowered Funds LLC boosted its holdings in Friedman Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock worth $559,000 after acquiring an additional 1,742 shares during the last quarter. 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 acquiring an additional 4,293 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings 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 purchasing an additional 7,141 shares during the last quarter. 33.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Friedman Industries from a “hold” rating to a “buy” rating in a report 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.