Insider Buying: Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Buys 2,000 Shares of Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Max Alan Reichenthal acquired 2,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was purchased at an average price of $14.89 per share, for a total transaction of $29,780.00. Following the completion of the acquisition, the director now owns 28,761 shares in the company, valued at $428,251.29. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Friedman Industries Trading Up 0.4 %

Shares of NYSEAMERICAN:FRD traded up $0.06 during midday trading on Tuesday, hitting $14.61. 1,403 shares of the company’s stock traded hands, compared to its average volume of 19,695. Friedman Industries, Incorporated has a twelve month low of $9.50 and a twelve month high of $19.52. The firm has a market capitalization of $101.83 million, a price-to-earnings ratio of 6.09 and a beta of 1.37.

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

Friedman Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Friday, July 26th. Friedman Industries’s dividend payout ratio (DPR) is 6.69%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Friedman Industries from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 11th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AJOVista LLC acquired a new position in shares of Friedman Industries in the fourth quarter worth about $49,000. Hillsdale Investment Management Inc. purchased a new stake in Friedman Industries during the 1st quarter worth approximately $131,000. O Shaughnessy Asset Management LLC purchased a new position in shares of Friedman Industries during the 1st quarter valued at approximately $425,000. LSV Asset Management purchased a new position in shares of Friedman Industries during the 2nd quarter valued at approximately $343,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Friedman Industries by 17.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock worth $459,000 after buying an additional 4,377 shares in the last quarter. 33.26% of the stock is 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.