Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor Purchases 2,500 Shares

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor purchased 2,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was acquired at an average price of $14.10 per share, for a total transaction of $35,250.00. Following the completion of the purchase, the chief executive officer now directly owns 169,154 shares in the company, valued at approximately $2,385,071.40. The trade was a 1.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Friedman Industries Stock Up 0.3 %

Shares of FRD traded up $0.04 during mid-day trading on Friday, reaching $13.95. The company’s stock had a trading volume of 21,000 shares, compared to its average volume of 10,655. Friedman Industries, Incorporated has a 1-year low of $13.40 and a 1-year high of $19.52. The stock has a market cap of $97.23 million, a price-to-earnings ratio of 12.24 and a beta of 1.41.

Friedman Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.16 annualized dividend and a dividend yield of 1.15%. Friedman Industries’s dividend payout ratio is currently 14.04%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 1,591 shares during the period. Renaissance Technologies LLC boosted its stake in Friedman Industries by 0.6% in the second quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock valued at $5,464,000 after buying an additional 2,245 shares in the last quarter. Empowered Funds LLC increased its position in Friedman Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock worth $559,000 after purchasing an additional 1,742 shares in the last quarter. De Lisle Partners LLP boosted its position in Friedman Industries by 2.9% in the third quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after buying an additional 11,689 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Friedman Industries by 11.2% during 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 in the last quarter. 33.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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