Inspire Advisors LLC Makes New Investment in Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Inspire Advisors LLC purchased a new position in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,612 shares of the company’s stock, valued at approximately $422,000. Inspire Advisors LLC owned about 0.40% of Friedman Industries at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in Friedman Industries during the fourth quarter worth about $28,000. Callahan Advisors LLC boosted its position in shares of Friedman Industries by 3.3% in the fourth quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock worth $823,000 after buying an additional 1,712 shares during the period. Empowered Funds LLC boosted its position 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 buying an additional 1,751 shares during the period. Geode Capital Management LLC boosted its position 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 worth $1,133,000 after buying an additional 7,141 shares during the period. Finally, De Lisle Partners LLP boosted its position in shares of Friedman Industries by 2.9% in the third 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. 33.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Friedman Industries

In related news, CEO Mike J. Taylor acquired 1,980 shares of Friedman Industries stock in a transaction on Monday, January 13th. The shares were purchased at an average cost of $14.50 per share, for a total transaction of $28,710.00. Following the purchase, the chief executive officer now directly owns 166,134 shares of the company’s stock, valued at $2,408,943. The trade was a 1.21 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tim Scott Stevenson bought 1,500 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 28,675 shares in the company, valued at approximately $494,070.25. The trade was a 5.52 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 7,180 shares of company stock valued at $106,922 over the last quarter. Company insiders own 4.60% of the company’s stock.

Friedman Industries Stock Up 2.3 %

Shares of NYSEAMERICAN FRD opened at $15.47 on Thursday. Friedman Industries, Incorporated has a 1-year low of $13.40 and a 1-year high of $19.52. The stock has a market capitalization of $107.83 million, a PE ratio of 19.10 and a beta of 1.40.

Friedman Industries 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.