Friedman Industries, Incorporated Plans Quarterly Dividend of $0.04 (NYSEAMERICAN:FRD)

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Wednesday, June 26th, NASDAQ reports. Shareholders of record on Friday, July 26th will be given a dividend of 0.04 per share on Friday, August 16th. This represents a $0.16 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, July 26th.

Friedman Industries Stock Up 0.8 %

Shares of Friedman Industries stock traded up $0.13 during mid-day trading on Thursday, hitting $15.72. 13,426 shares of the stock were exchanged, compared to its average volume of 18,777. Friedman Industries has a 12 month low of $9.50 and a 12 month high of $19.52. The stock has a market cap of $109.57 million, a P/E ratio of 6.58 and a beta of 1.34.

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

Insiders Place Their Bets

In related news, CEO Mike J. Taylor purchased 5,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average price of $16.54 per share, with a total value of $82,700.00. Following the acquisition, the chief executive officer now owns 147,154 shares of the company’s stock, valued at approximately $2,433,927.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Friedman Industries news, CEO Mike J. Taylor bought 1,908 shares of the stock in a transaction on Monday, June 17th. The shares were acquired at an average price of $16.33 per share, with a total value of $31,157.64. Following the acquisition, the chief executive officer now directly owns 152,154 shares of the company’s stock, valued at approximately $2,484,674.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mike J. Taylor purchased 5,000 shares of Friedman Industries stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $16.54 per share, with a total value of $82,700.00. Following the completion of the transaction, the chief executive officer now directly owns 147,154 shares in the company, valued at $2,433,927.16. The disclosure for this purchase can be found here. Insiders have bought a total of 8,908 shares of company stock valued at $142,398 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Friedman Industries from a “buy” rating to a “strong-buy” rating in a research report 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.