Mike J. Taylor Acquires 2,500 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were bought at an average cost of $14.10 per share, for a total transaction of $35,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 169,154 shares of the company’s stock, valued at approximately $2,385,071.40. The trade was a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Friedman Industries Stock Performance

Shares of NYSEAMERICAN FRD opened at $13.95 on Friday. Friedman Industries, Incorporated has a 52 week low of $13.40 and a 52 week high of $19.52. The company has a market capitalization of $97.23 million, a P/E ratio of 12.24 and a beta of 1.41.

Friedman Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 17th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, January 17th. This represents a $0.16 annualized dividend and a dividend yield of 1.15%. Friedman Industries’s dividend payout ratio (DPR) is presently 14.04%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in 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 during the period. Empowered Funds LLC increased its holdings in shares of Friedman Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after purchasing an additional 1,742 shares in the last quarter. De Lisle Partners LLP lifted its stake in shares of Friedman Industries by 2.9% in the 3rd quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after purchasing an additional 11,689 shares during the period. Renaissance Technologies LLC boosted its holdings 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 buying an additional 2,245 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Friedman Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock worth $8,482,000 after buying an additional 1,591 shares in the last quarter. 33.26% of the stock is currently owned by institutional investors and hedge funds.

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.