Tim Scott Stevenson Buys 1,500 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Tim Scott Stevenson purchased 1,500 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was bought at an average cost of $17.23 per share, with a total value of $25,845.00. Following the completion of the transaction, the director now directly owns 28,675 shares in the company, valued at $494,070.25. The trade was a 5.52 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Friedman Industries Stock Up 2.3 %

Shares of NYSEAMERICAN FRD opened at $17.18 on Wednesday. The stock has a market capitalization of $119.74 million, a price-to-earnings ratio of 15.07 and a beta of 1.40. Friedman Industries, Incorporated has a 52 week low of $13.40 and a 52 week high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter. Friedman Industries had a return on equity of 6.32% and a net margin of 1.71%. The business had revenue of $106.76 million during the quarter.

Friedman Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, January 17th. This represents a $0.16 annualized dividend and a yield of 0.93%. Friedman Industries’s payout ratio is presently 14.04%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Friedman Industries

Several institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC purchased a new stake in shares of Friedman Industries in the 4th quarter worth about $401,000. Inspire Advisors LLC purchased a new position in shares of Friedman Industries during the 4th quarter worth approximately $422,000. Jones Financial Companies Lllp bought a new position in shares of Friedman Industries in the 4th quarter worth approximately $28,000. Callahan Advisors LLC increased its stake in shares of Friedman Industries by 3.3% in the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock worth $823,000 after acquiring an additional 1,712 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Friedman Industries by 5.0% in the fourth quarter. Empowered Funds LLC now owns 36,629 shares of the company’s stock worth $560,000 after acquiring an additional 1,751 shares during the last quarter. 33.26% of the stock is currently owned by institutional investors.

Friedman Industries Company Profile

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.