Insider Buying: Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Buys 5,000 Shares of Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor bought 5,000 shares of Friedman Industries stock in a transaction dated Tuesday, July 2nd. The stock was acquired at an average cost of $14.50 per share, with a total value of $72,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 157,154 shares of the company’s stock, valued at approximately $2,278,733. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Friedman Industries Stock Up 0.9 %

Shares of Friedman Industries stock traded up $0.13 on Friday, reaching $14.80. 11,043 shares of the stock were exchanged, compared to its average volume of 18,814. The firm has a market cap of $103.16 million, a price-to-earnings ratio of 6.14 and a beta of 1.37. Friedman Industries, Incorporated has a 1-year low of $9.50 and a 1-year high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last issued its earnings results on Tuesday, June 11th. The company reported $0.71 earnings per share (EPS) for the quarter. Friedman Industries had a return on equity of 13.86% and a net margin of 3.36%. The business had revenue of $132.23 million during the quarter.

Friedman Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, July 26th will be issued a $0.04 dividend. The ex-dividend date is Friday, July 26th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.08%. Friedman Industries’s dividend payout ratio is presently 6.69%.

Institutional Trading of Friedman Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Gendell Jeffrey L increased its position in shares of Friedman Industries by 16.4% in the first quarter. Gendell Jeffrey L now owns 435,666 shares of the company’s stock valued at $8,164,000 after buying an additional 61,339 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Friedman Industries by 9.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock valued at $610,000 after acquiring an additional 2,859 shares during the last quarter. Empowered Funds LLC raised its position in Friedman Industries by 8.0% during the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after acquiring an additional 2,275 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Friedman Industries in the first quarter valued at about $425,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Friedman Industries in the first quarter valued at approximately $131,000. Hedge funds and other institutional investors own 33.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Friedman Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 19th.

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.